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Xiao Qiao
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Jul 25, 2011
Man arrested for suspected loansharking activities
By Tham Yuen-C
POLICE arrested a 29-year-old man for suspected involvement in loansharking activities.
This, after officers from of Central Police Division conducted an operation in the vicinity of Outram Road on Sunday.
The suspect was found in possession of cash $1,080, several automated teller machine (ATM) cards, bank transaction receipts and notes containing bank account numbers that were linked to illegal moneylending activities.
Investigations revealed that the man was a debtor-turned-runner who was believed to have assisted loansharks by conducting fund transfers via the ATM and opening bank accounts.
He also assisted loansharks to collect debts from borrowers.
