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Sep 9, 2009
3 loansharking suspects held <!--10 min-->
TWO men were arrested on Monday along Yishun Ave 1 for suspected involvement in loanshark activities. Officers from the Ang Mo Kio Police Division noticed the two men behaving suspiciously on a motorcycle along Yishun Ave 1 at about 10.20pm on Monday. When they went to check, several handphones suspected to contain loansharking-related messages and markers were found in their possession. Preliminary investigations revealed that the suspects are believed to have assisted a loanshark by going to debtors' units to issue notes for loan repayments.
Both suspects, aged 19 and 20, will be charged in Court on Wednesday for assisting an unlicensed moneylender in carrying on his business. In a separate case, a 36-year-old man who was also suspected of being involved in loansharking was arrested on Tuesday morning. Following investigations into several reports of loanshark harassment in the Teban Garden area, officers from Clementi Police Division ambushed and arrested the suspect at Jurong East Street 13 at about 11am. Loansharking-related paraphernalia seized include mobile phones, suspected debtors' records, ATM cards, cash of about $500 and several bank transaction receipts were seized from the suspect.
Preliminary investigations showed that the suspect had assisted loansharks by collecting debt repayments and aided in the opening of bank accounts for loansharking activities. The suspect is also believed to be a debtor himself. Investigations are ongoing. First-time offenders found guilty of assisting the business of an unlicensed moneylender may be fined up to $200,000 or jailed for up to two years or both.
Sep 9, 2009
3 loansharking suspects held <!--10 min-->
TWO men were arrested on Monday along Yishun Ave 1 for suspected involvement in loanshark activities. Officers from the Ang Mo Kio Police Division noticed the two men behaving suspiciously on a motorcycle along Yishun Ave 1 at about 10.20pm on Monday. When they went to check, several handphones suspected to contain loansharking-related messages and markers were found in their possession. Preliminary investigations revealed that the suspects are believed to have assisted a loanshark by going to debtors' units to issue notes for loan repayments.
Both suspects, aged 19 and 20, will be charged in Court on Wednesday for assisting an unlicensed moneylender in carrying on his business. In a separate case, a 36-year-old man who was also suspected of being involved in loansharking was arrested on Tuesday morning. Following investigations into several reports of loanshark harassment in the Teban Garden area, officers from Clementi Police Division ambushed and arrested the suspect at Jurong East Street 13 at about 11am. Loansharking-related paraphernalia seized include mobile phones, suspected debtors' records, ATM cards, cash of about $500 and several bank transaction receipts were seized from the suspect.
Preliminary investigations showed that the suspect had assisted loansharks by collecting debt repayments and aided in the opening of bank accounts for loansharking activities. The suspect is also believed to be a debtor himself. Investigations are ongoing. First-time offenders found guilty of assisting the business of an unlicensed moneylender may be fined up to $200,000 or jailed for up to two years or both.
