8 arrested for involvement in loansharking activities
AsiaOne
Tuesday, Feb 05, 2013
SINGAPORE - Police have arrested 6 men and 2 women aged 23 to 60 years for suspected involvement in loansharking activities in four separate cases.
In the first case, officers from Jurong Police Division conducted an operation at Jurong West on 4 January 2013 and arrested 3 men and 2 women for suspected involvement in loansharking activities.
The suspects are believed to have opened bank accounts and given away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loanshark syndicates to facilitate their unlicensed moneylending businesses.
In the second case, on 4 Feb 2013 at about 1.20 pm, based on information received, the 23 year old man was arrested at Airport Boulevard for suspected involvement in loansharking activities.
Preliminary investigation revealed that the 23 year old suspect is also a debtor-turned-runner and had assisted the loanshark syndicate by procuring ATM cards and PINs from debtors to offset their debts.
In the third case, on 4 Feb 2013 at about 7.35 pm, acting on a tip-off, the 52 year old man was arrested at Choa Chu Kang Loop for suspected involvement in loansharking activities.
Preliminary investigation revealed that the suspect is a debtor-turned-runner and had assisted the loanshark syndicate by looking for signs of harassment targeting debtors.
In the last case, on 4 Feb 2013 at about 10.10 pm, at South Woodlands Drive, officer from Woodlands West NPC arrested the 33 year old man for suspected involvement in loansharking activities.
Upon his arrest, 14 Automated Teller Machine (ATM) cards, one mobile phone, cash S$1,230, a stacks of transaction receipts and one notebook were seized as case exhibits. Preliminary investigations revealed that the suspect is a debtor-turned-runner and is believed to have facilitated the business of a loanshark by carrying out electronic fund transactions via ATMs.
Investigations against the suspects for the first, second and third case are still ongoing. As for the suspect in the last case, he will be charged in Court on 6 February 2013 for the offence of Assisting Moneylenders under Section 14(1)(b)(i) of the Moneylenders' Act, Chapter 188.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding 4 years and shall also be liable to be punished with caning with not more than 6 strokes.
Commander of Jurong Police Division, Deputy Assistant Commissioner of Police (DAC) Wilson Lim commended his officers for their commitment in the fight against loansharking activities.
