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5 loanshark runners arrested in separate operations
Published on Oct 6, 2011
By Elizabeth Soh
Five men believed to be loanshark runners were arrested in five separate cases over two days.
Between Wednesday and Thursday, the five of them, aged between 21 and 48, were caught by officers from the Ang Mo Kio Police Division with various loanshark-related paraphernalia on them.
The five are suspected to have committed loansharking offences ranging from facilitating illegal moneylending by opening bank accounts and giving away ATM cards to syndicates to allegedly harrassing residents by scrawling graffiti and splashing paint on debtors' flat units.
One of them is suspected of using bicycle locks to lock their debtors' homes.
Three of them will be charged this week for loansharking offences and face a maximum penalty of four years in jail, six strokes of the cane, and a fine of $300,000. The other two suspects are still under investigation.
