31 caught in massive swoop

[Orochi]

Singapore
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Jan 28, 2010

CRACKDOWN ON LOANSHARKS
31 caught in massive swoop

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The items seized included cash of more than $66,000, computer, laptops, handphones and ATM cards. -- ST PHOTO: DESMOND LIM

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THIRTY-ONE suspects were arrested for loansharking activities - the highest number in a single operation since 2005. Two syndicates, giving out loans totalling about $550,000 to 600 debtors, were believed to have been busted in the 19-hour police operation, which began on Tuesday and ended on Thursday morning. The two syndicates were led by a 35-year-old unemployed man and a 31-year-old handphone shop owner respectively.

The items seized included cash of more than $66,000, computer, laptops, handphones and ATM cards. Police said the suspects, aged 17 to 59, played a range of roles from financier ('Towkays'), loansharks ('Ah Longs'), to runners, harassers and bank account holders. Among them were five women. The suspects were believed to have been running several different 'stalls' islandwide.

In the massive swoop, officers from the Criminal Investigation Department and Police Intelligence Department carried out raids at various locations including the Punggol, Hougang, Eunos, Changi, Bedok North, Redhill, Serangoon, Sengkang, Woodlands, Bukit Batok, Rivervale, Buangkok, Bedok Reservoir, Commonwealth Drive and Tampines areas. Director of Criminal Investigation Department, Senior Assistant Commissioner Ng Boon Gay said: 'Police's strategy is to take out loansharking syndicates, which are the root cause of harassment.

This is organised crime at all levels, regardless of the person's role; from the lowly runner to the Towkay. Every single member of the syndicates, regardless of level, will be taken to task, and dealt with severely.' Persons found guilty of operating or assisting in the operating of an illegal money-lending business may be fined not less than $20,000 and up to $200,000 or jailed up to two years, or both. Those who cause damage to property or harm to persons while committing these acts of harassment will also be caned.

 

[YellowRibbon]

Question :

Is there anyone else above the "Towkay" ?

Is there a centralised data collection center between the syndicates ?

 

[gone4good]

Rightfully there is no one above the towkay. The towkay only comes up with the cash and is not involved in daily operations. The ones calling the shots in operations is the Ah Longs or loan sharks. There may be another level after them which is known as assistant loan sharks following by runners. Normally these ah longs managed more than 1 stalls and the definition of stalls are actually 'names'' which the loans are given out under. so you can have names like ferrari, toyota, lexus, bmw etc and they may all be under the same syndicate. the reason to do so is to add complication and confusion to the ground and investigations but the people managing them are generally the same.

 

[Ash007]

Question:

If what is reported is true, Towkay to runner is caught, does this mean no need to repay loan liao ?Or after they got released from jail continue?

 

[gone4good]

yes. You are right provided that thw whole syndicate is totally wiped out. But in event that the database (normally in the form of thumbdrive/memory stick) gets in the hand of other syndicate members not rounded up, they would attempt to continue their operations. I am aware of some syndicates selling off their database to other syndicate for them to continue collecting back the debts. Eg, if my database has 500k live loans and now police smashed my syndicate, it may not be possible for me to continue due to lack of manpower or other reasons, i would try to sell off this database for maybe 20-50% of the loans amount (100-250k) to another syndicate for them to continue collecting the debts.

 

[YellowRibbon]

they would attempt to continue their operations. I am aware of some syndicates selling off their database to other syndicate for them to continue collecting back the debts. Eg, if my database has 500k live loans and now police smashed my syndicate, it may not be possible for me to continue due to lack of manpower or other reasons, i would try to sell off this database for maybe 20-50% of the loans amount (100-250k) to another syndicate for them to continue collecting the debts.

You are very knowledgable.

Reports said that the loansharks are surrounded by layers of lieutanants. The fact that 2 "towkays" were also caught should have sent shivers to the rest of them.

What about those operating from overseas ?

 

[gone4good]

You are very knowledgable.

Reports said that the loansharks are surrounded by layers of lieutanants. The fact that 2 "towkays" were also caught should have sent shivers to the rest of them.

What about those operating from overseas ?

Lieutenants are additional terms used to call the right and left hand mans. In short they are trusted aides to the towkay. The loansharks may or may not know who is the towkay but the lieutenants may have the privilege of meeting up with the towkay. in some instance they are responsible for money transaction between the loan sharks and towkay. In many situation the loansharks do not know who is the towkay above them or they are working for.

For operating overseas, i think most are either in Malaysia or Thailand. Indonesia and other places are rare due. From my knowledge operating overseas refer to the 'Ah Longs' having their office away from singapore but the runners recruited are still local or debtors

 

[YellowRibbon]

Lieutenants are additional terms used to call the right and left hand mans. In short they are trusted aides to the towkay. The loansharks may or may not know who is the towkay but the lieutenants may have the privilege of meeting up with the towkay. in some instance they are responsible for money transaction between the loan sharks and towkay. In many situation the loansharks do not know who is the towkay above them or they are working for.

Any idea how the towkay were caught ?? The lieutenant betray him ?

 

[gone4good]

Any idea how the towkay were caught ?? The lieutenant betray him ?

depends but normally the money is so good that there is no betrayal and the ah long will normally take up responsibility. towkays who were caught normally through their own negligence in giving leads to police to follow up on them like bank transaction, money transfer etc.