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Dec 8, 2009
8 nabbed in raids
<!-- by line --> <!-- end by line --> EIGHT loansharking suspects were nabbed in an eight-hour operation carried out by police on Monday. The seven men and a woman, aged between 19 and 47 years, were rounded by officers from Ang Mo Kio Police Division in simultaneous raids at Ang Mo Kio, Clementi, Rivervale, Tampines and Toa Payoh. Preliminary investigations revealed that they had facilitated in the business of the loansharking syndicates by opening bank accounts and giving away their Automated Teller Machine (ATM) cards and Personal Identification Number (PIN) to the loanshakrs. Four of the suspects are also believed to be existing debtors and at least five of them are believed to have opened more than one bank account for the loansharks. Investigations are still ongoing. First-time offenders found guilty of operating as loansharks or assisting loansharks in their business may be fined up to $200,000 or jailed up to two years, or both. Repeat offenders face a fine of up to $200,000 and mandatory jail for up to five years.
Home > Breaking News > Singapore > Story
Dec 8, 2009
8 nabbed in raids
<!-- by line --> <!-- end by line --> EIGHT loansharking suspects were nabbed in an eight-hour operation carried out by police on Monday. The seven men and a woman, aged between 19 and 47 years, were rounded by officers from Ang Mo Kio Police Division in simultaneous raids at Ang Mo Kio, Clementi, Rivervale, Tampines and Toa Payoh. Preliminary investigations revealed that they had facilitated in the business of the loansharking syndicates by opening bank accounts and giving away their Automated Teller Machine (ATM) cards and Personal Identification Number (PIN) to the loanshakrs. Four of the suspects are also believed to be existing debtors and at least five of them are believed to have opened more than one bank account for the loansharks. Investigations are still ongoing. First-time offenders found guilty of operating as loansharks or assisting loansharks in their business may be fined up to $200,000 or jailed up to two years, or both. Repeat offenders face a fine of up to $200,000 and mandatory jail for up to five years.
