It's ROTAN time again! Should just impose DEATH PENALTY!
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2 arrested for loanshark involvement
AsiaOne
Wednesday, Oct 02, 2013
SINGAPORE - Police have arrested a man and a woman for involvement in loanshark activities in two separate cases.
In the first case, police officers from Ang Mo Kio Police Division arrested the 34-year-old woman in the vicinity of Ang Mo Kio Ave 9 on Oct 1 at around 6pm.
Preliminary investigations indicated that the suspect had given away her ATM card and Personal Identification Number (PIN) to a loanshark syndicate to facilitate the business of unlicensed moneylending.
In the second case, the 25-year-old male was nabbed in the vicinity of Telok Blangah Heights at around 8am on Wednesday. Preliminary investigations revealed that he is believed to have committed loanshark harassment in Serangoon housing estate.
Investigations against the first suspect are on-going. The second suspect would be charged in court on Oct 3.
Under the Moneylenders Act, where a bank account or ATM card of any person is used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender, that person is presumed to have assisted in the carrying on of the business of an unlicensed moneylender. First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined up to $300,000, or be jailed up to 4 years and caned.
First-time offenders found guilty of loanshark harassment shall be fined up to $50,000 with imprisonment of up to 5 years and caning of up to 6 strokes