A
Admiral Piett
Guest
Jul 8, 2011
Four nabbed for suspected loan-sharking activities
By Francis Chan, Assistant News Editor
THREE men and a woman, aged between 29 and 54, have been arrested by the police on Thursday for suspected involvement in loan-sharking activities, after an islandwide operation that lasted two-days.
About 80 youths, mostly students aged between 12 and 21, are also currently assisting in police investigations.
The sting operation involved officers from the Bedok Police Division sweeping through various locations, including Jurong, Woodlands, Yishun, Ang Mo Kio, Bishan, Hougang, Bedok, Pasir Ris and Tampines.
Loan-shark-related paraphernalia including more than 150,000 name cards and pamphlets advertising loan facilities, masquerading as legal loans and licensed moneylenders, along with two printing machines were seized during the course of the bust.
Police said in a statement on Friday morning that the 29-year-old and 39-year-old suspects were involved in assisting a loan-sharking syndicate by recruiting youths to distribute the name cards and pamphlets.
Investigations also revealed that the name cards and pamphlets for the loan-sharking syndicate were printed by the 54-year-old suspect.
