2 arrested for loansharking activities
AsiaOne
Friday, Feb 08, 2013
SINGAPORE - Police have arrested two men, aged 24 and 62, for suspected involvement in loansharking activities in two separate cases.
In the first case, on Feb 7, 2013 at about 4pm, acting on a tip off from a caller responding to a police appeal published on the Singapore Police Force Facebook page, officers from the Ang Mo Kio Police Division arrested the 24-year-old man in the vicinity of Clementi Road.
Preliminary investigations indicate that the suspect was believed to be responsible for splashing paint and scrawling loanshark-related graffiti on the wall of the unit at Wellington Circle.
In the second case, at about 6.45 pm, in response to a '999' call, officers from Ang Mo Kio Police Division arrested the 62-year-old suspect in the vicinity of Yishun Ave 3.
Preliminary investigations show that he had assisted a loanshark in his business by contacting the borrower at his unit. Two mobile phones containing debtors' records were seized as case exhibits.
Investigations against the 62-year-old are on-going.
First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term not exceeding 5 years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to caning of not less than 3 and not more than 6 strokes.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning of not more than six strokes.
Commander of Ang Mo Kio Police Division, Deputy Assistant Commissioner of Police Keok Tong San, commended his officers for their swiftness leading to the arrests of the suspects.
He added that the Police will continue with their relentless efforts to eradicate loansharking activities and ensure that those involved will be dealt with sternly in accordance with the law.
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