3 arrested for loansharking activities
AsiaOne
Friday, Mar 08, 2013
SINGAPORE - In three separate cases, the police have arrested three men, aged between 25 and 51, for alleged loansharking activities.
In the first case, on March 6 at about 7.00 pm, the police arrested a 31-year-old suspect along Bukit Panjang Road for suspected loansharking activities acting on a tip-off.
Initial investigations suggested that suspect is a debtor-turned-runner and had assisted loansharks by securing Automated Teller Machine (ATM) cards from debtors.
The suspect had also assisted loansharks by verifying the particulars of potential borrowers. Four ATM cards and one mobile phone were seized for investigations.
In another similar case on March 6, a 25-year-old was arrested for alleged loansharking activities.
Investigations showed that the suspect is a debtor-turned-runner and had opened bank accounts, and given away his ATM and Personal Identification Numbers (PINs) to loansharks.
In the final case, on March 7, a 51-year-old man was arrested at Segar Road for suspected loanshark harassment.
Initial investigations showed that that the man is a debtor who had used his previous residential address to obtain loans from loansharks.
This resulted in the current owner to suffer loanshark harassment.
The suspect is also being investigated for failing to report the change of his residential address under the National Registration Act.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, can be fined between $30,000 and $300,000. They can also 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.
Under the National Registration Act, any person who is guilty of an offence of Failing to report a change of address shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 5 years or to both.
