4 separate loansharking operations busted in 2 days
AsiaOne
Thursday, May 03, 2012
SINGAPORE - Four separate cases of loansharking activities have netted a total of 11 people between the ages of 14 to 44 years for their suspected involvement.
In the first case, on May 2 at about 5.00pm, acting on information received, police officers arrested a 47-year-old man in the vicinity of Geylang.
He was found to be in possession of two ATM cards and a mobile phone believed to contain debtors' information.
Preliminary investigations revealed that the suspect is a debtor-turned-runner, and he is believed to have assisted the loanshark syndicates to perform electronic fund transactions via ATMs.
On the same day, at about 9.20 pm, police officers in a follow-up investigation arrested an 18-year-old teen along Yishun Street 21.
The teen is also believed to be a debtor-turned-runner, who had committed several cases of loanshark harassment by splashing paint and scrawling loanshark-related graffiti on the walls of HDB blocks in the Yishun housing estate.
About an hour later, at 10.50pm, police received a call regarding a group of teenagers playing with sparklers in the vicinity of Mayflower Ave.
Officers arrived at the scene to find two male subjects aged 14 and 19 years and a 17-year-old female.
Following a check and an interview by the officers, the three were arrested for committing acts of harassment to debtors together with three other accomplices.
The three other accomplices were two males aged 16 and 18 years and another 17-year-old female. They were arrested at their residences in Toa Payoh and Ang Mo Kio.
These six teens are believed to have conducted several incidences of loanshark harassment in Sengkang, Bedok, Tampines, Pasir Ris, Bukit Merah and Jurong by splashing paint on debtors' doors and scrawling loanshark-related graffiti on the walls.
Following these arrests, another 19-year-old male was arrested in the vicinity of Ang Mo Kio Ave 9 on the next day at about 4.50am.
It is believed that he had assisted the loansharks by arranging for the six suspects to harass debtors, and subsequently transferring the payment from the loansharks to the suspects.
Loanshark related paraphernalia such as mobile phones believe to contain debtors' records, ATM cards, markers, caps and a knife were seized.
In the last case, on May 3 at about 2.20pm, officers arrested a 36-year-old woman in the vicinity of Ang Mo Kio Ave 9 for suspected involvement in loansharking activities.
The woman had opened a bank account and given away her ATM card and Personal Identification Number (PIN) to loansharking syndicates to facilitate the business of unlicensed moneylending.
Following her arrest, a 44-year-old man in the same area was arrested. The debtor-turned-runner is suspected of having assisted loansharks by carrying out electronic fund transactions via ATMs and allowing his bank accounts and ATM cards to be used by the loansharks.
Upon his arrest, several ATM cards were found on him.
All nine suspects in the first, second and third case will be charged in Court on May 4.
Investigations against the two suspects involved in the last case are still on-going.
Under the law, a person found guilty of giving his or her bank account or ATM card of to loansharks for the purpose of facilitating the business of illegal moneylending can be fined up to $300,000, imprisoned for up to four years, and be liable for caning of up to six strokes.
First time offenders found guilty of loanshark harassment can be fined up to $50,000, with a mandatory imprisonment term of up to five years and caning of up to six strokes.
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