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64 arrested for suspected loansharking activities in 2 raids
Published on Feb 23, 2012
By Peter Wong
64 people were arrested on Wednesday in two separate island-wide operations conducted by the Ang Mo Kio Police Division and Clementi Police Division respectively.
In the first operation, which took place between 8am and 6pm on Wednesday, officers from Ang Mo Kio Police Division conducted simultaneous raids at various locations in Ang Mo Kio, Sembawang, Yishun, Woodlands, Bukit Panjang, Chai Chee, Bedok, Eunos and Tampines housing estates.
A total of 52 people comprising 42 men and 10 women, aged between 18 and 81, were arrested for their suspected involvement in loansharking activities.
Preliminary investigations revealed that these suspects had opened bank accounts and given away their ATM cards and PIN numbers to loansharking syndicates to facilitate their unlicensed moneylending businesses.
All the suspects are believed to be borrowers or guarantors who had agreed to assist the loansharks either for monetary gains or to offset their debts.
Read the full story in Thursday's edition of The Straits Times.
