- Joined
- Aug 19, 2011
- Messages
- 148
- Points
- 0
Suspected loanshark runner nabbed
Posted: 02 March 2012 1704 hrs
SINGAPORE : Police have arrested a 50-year-old man for his suspected involvement in loansharking activities.
Officers from the Clementi Police Division spotted a man behaving suspiciously in the vicinity of Clementi West Street 2 on Thursday night.
The officers conducted a check on the man and found two Automated Teller Machine (ATM) cards, two mobile phones, some bank transaction receipts and cash of S$2,000 on him.
Preliminary investigations revealed that the man is a debtor-turned-runner and he is believed to have assisted the loansharks in their business by conducting bank transfers.
The suspect is currently out on bail pending further investigations.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined not less than S$30,000, be jailed for a maximum of four years and shall also be liable to be punished with caning with not more than six strokes.
- CNA/ms
