20-year-old arrested for suspected involvement in loansharking activities

[Orochi]

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Posted: 22 January 2010 1919 hrs
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SINGAPORE: Police have nabbed a 20-year-old youth for suspected involvement in loansharking activities.

The arrest was made at 8pm on Thursday at the void deck of Blk 206 Serangoon Central.

Also seized were several ATM transaction receipts and cards as well as mobile phones containing debtors' addresses.

Initial investigations showed that the suspect is a debtor-turned-runner whose role was to help the loansharks conduct fund transfers at ATMs and check ATM transaction receipts produced by debtors.

If found guilty, he could be fined up to S$200,000 or jailed for up to two years. - CNA/vm

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