3 arrested for assisting loansharks
AsiaOne
Wednesday, Apr 10, 2013
SINGAPORE - Police have arrested 1 woman and 2 men aged between 30 and 52 for suspected involvement in loansharking activities in 3 separate cases.
In the first case, on April 9, 2013 at about 5pm, officers arrested a 52 year-old male suspect for assisting in loanshark activities near Woodlands Avenue 6.
Investigations revealed that the suspect is a debtor-turned-runner and had assisted the loanshark syndicates by performing electronic funds transfers via Automated Teller Machines (ATMs).
Upon his arrest, 29 ATM cards, cash amounting to S$8,660, a stack of bank transactions receipts and two handphones were seized.
In the second case, on April 9 at about 6pm, officers arrested a 30 year-old suspect near Jurong West Avenue 3.
The suspect had assisted the loanshark by procuring Automated Teller Machine (ATM) cards from debtors for the unlicensed moneylending business. Upon his arrest, one ATM bank card was seized.
In the third case, on April 9 at about 6.30pm, officers arrested a 51 year-old female suspect.
The suspect had opened two bank accounts and gave away her Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loan-shark syndicates to facilitate their business. Upon her arrest, 2 bank receipts were seized as case exhibits.
Both male suspects will be charged in court on April 11, 2013. Investigations for the female suspect are on-going.
Under the Moneylenders Act, first-time offenders found guilty of assisting in the business of an unlicensed moneylender may be fined $30,000 to $300,000 and be imprisoned for a term not exceeding 4 years. Offenders can also be caned with no more than 6 strokes.
