Loan shark ring smashed

[General Veers]

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Dec 17, 2009

Loan shark ring smashed

<!-- by line --> <!-- end by line --> THREE men and a woman believed to be responsible for more than 200 loanshark-related harassment cases were arrested on Wednesday in an islandwide operation. The four, aged between 24 and 34 years, are believed to be members of a loansharking syndicate operating locally. Amongst those arrested are the loan shark and his assistants. Officers from the Criminal Investigation Department (CID) and Police Intelligence Department arrested the group during raids carried out at several locations in Jansen Road, Cantonment Close, and Serangoon North. They seized $170,000, mobile phones, prepaid-Sim cards, laptops, thumbdrives, ATM cards, pagers, and suspected debtor records for further investigations. Preliminary investigations indicate that the syndicate would carry out transactions by electronic funds transfers via Automated Teller Machines (ATM). For those who defaulted or failed to repay the illegal loans, the syndicate would commit harassment at their units by splashing paint and scribbling repayment notes on the walls. Acting Assistant Director of the Specialised Crime Division, CID, Deputy Superintendent of Police (DSP) Deculan Goh commended the officers involved. He said: 'Police remain committed to wiping out the loansharking scourge and will not let up in our enforcement efforts.'

 

[General Veers]

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</td> </tr> <tr> <td colspan="2" valign="top" width="784"> 3 men, 1 woman arrested for suspected loan-sharking activities
By Lynda Hong, Channel NewsAsia | Posted: 17 December 2009 2022 hrs
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</td> </tr> <tr> <td height="60" valign="top"> </td> <td class="update" height="80" valign="top"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td bgcolor="#f6f6f6" width="138">Photos </td> <td bgcolor="#f6f6f6" width="47">1 of 1</td> <td bgcolor="#f6f6f6" width="18"><input disabled="disabled" id="btnPrev" value="<< Previous" onclick="Prev();" src="http://www.channelnewsasia.com/images/butt_previous.gif" height="15" type="image" width="18"></td> <td bgcolor="#f6f6f6" width="19"><input id="bntPlay" value="Play - Stop" onclick="Play()" src="http://www.channelnewsasia.com/images/butt_stop.gif" height="15" type="image" width="19"></td> <td bgcolor="#f6f6f6" width="18"><input disabled="disabled" id="btnNext" value=" Next >> " onclick="Next();" src="http://www.channelnewsasia.com/images/butt_next.gif" height="15" type="image" width="18"></td> </tr> </tbody></table>

Example of loanshark-related graffiti on wall of a housing estate. (file pic)</td> </tr> <tr> <td> </td> <td class="update"> </td> </tr> <tr> <td> </td> <td>
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SINGAPORE: Police have arrested three men and one woman, aged between 24 and 34, for suspected involvement in loan-sharking activities during a recent islandwide operation. Cash amounting to S$170,000 were seized.

Officers from CID and the Police Intelligence Department raided several locations at Jansen Road, Cantonment Close and Serangoon North.

Also seized were mobile phones, prepaid SIM cards, laptops, thumb drives, ATM cards, pagers and suspected debtor records.

Preliminary investigations indicated the syndicate would carry out transactions by electronic fund transfers via ATMs. Debtors who defaulted would be harassed with splashed paint and repayment demands scribbled on the walls of their homes.

First-time offenders found guilty of operating or assisting in an unlicensed moneylending business may be fined up to S$200,000 or jailed up to two years, or both. Repeat offenders may be fined up to S$200,000, and jailed for up to five years.

First-time offenders found guilty of committing loanshark harassment may be fined up to S$40,000 or jailed up to three years, or both. Repeat offenders may be fined up to S$40,000 and jailed up to six years.

Persons who cause damage to properties or harm to persons in the course of committing loan shark-related harassment are also liable for caning. - CNA/vm



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[BlueCat]

this group is just only one of the too many group operating.
for one that got caught,maybe 2-3 groups will come up.
but must really thanks to our enforcement agency.