Man arrested for suspected involvement in loansharking activities
By Gerard Lim | Posted: 28 May 2012 2126 hrs
SINGAPORE: Police arrested a 41-year-old man for suspected involvement in loansharking activities.
He was nabbed on 27 May around 11.55pm in the vicinity of Ang Mo Kio Ave 3.
The suspect is believed to be a debtor-turned-runner, responsible for carrying out electronic fund transactions for loansharks.
Several ATM cards were found in his possession.
Under the Moneylenders Act, the man could be fined up to S$300,000, jailed up to four years and given up to six strokes of the cane.
- CNA/ck
