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Suspected loanshark runner arrested
Posted: 17 June 2011 1437 hrs
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SINGAPORE: Police have arrested a 43-year-old man for his suspected involvement in loansharking activities.
He was arrested on June 16 in the vicinity of Tampines Bus Interchange, following a tip-off.
The suspect had with him several Automated Teller Machine (ATM) cards and cash of more than S$500.
Preliminary investigations revealed that the suspect is believed to be a debtor-turned-runner.
Police suspected he had assisted the loansharks in their businesses by performing electronic monetary transactions using the ATM cards and helping borrowers to open bank accounts for the loansharks.
- CNA/cc
