THEY are believed to be members of a syndicate with 200 debtors and monthly takings of about $150,000.

Police on Tuesday arrested four men and one woman, believed to be members of a loan-shark syndicate with suspected secret society links, in an island-wide operation to crack down on illegal moneylending activities.

The syndicate is believed to have 200 debtors who pay the loan-sharks about $150,000 monthly.

After months of intensive intelligence probes, police identified the suspects as members of an unlicensed moneylending syndicate.

In the operation conducted by officers from the Criminal Investigation Department, various premises in Keong Siak Road, Toa Payoh, Woodlands and Bukit Timah were raided.

Cash, mobile phones, an assortment of ATM cards and suspected debtors' records were seized.

At one place, offensive and scheduled weapons consisting of seven wooden poles, one dagger and five parangs were also uncovered and seized.

Police said the syndicate has suspected secret society links and the weapons are believed to have been stored for possible use in a gang fight.

The weapons were not used for unlicensed moneylending related harassment.

"Its unlicensed moneylending operation is believed to have at least 200 debtors with a monthly turnover of approximately $150,000. When debtors defaulted on their loans, the syndicate would then make threatening phone calls to them", said a police statement on Wedesday.

Those found in possession of a scheduled weapon, which includes parangs, face up to five years in jail and caning of not less than six strokes.

First-time offenders convicted of operating a business as an unlicensed moneylender may be fined up to $200,000, or jailed a maximum of two years, or both.

Repeat offenders may be fined up to $200,000 and jailed up to 5 years.

Persons found guilty of harassing or intimidating any persons in connection with loans by an unlicensed moneylender may be fined up to $40,000 or jailed up to 3 years, or both.

In addition, offenders are also liable for caning damage was caused to any property during the acts of harassment.

Earlier on Wednesday, a teenager who was among four men captured on closed-circuit television for alleged loan-shark activities was charged in court with harassing a resident in Bedok Reservoir Road.

Ong Kah Soon, 17, who turned himself in on Tuesday, is accused of splashing iodine on a unit at the HDB block together with another man to cause annoyance to the victim on Dec 17 last year.

Ong, who has highlighted hair, and his accomplice are said to have been acting on behalf of an illegal moneylender.

On Monday, police released images of four men believed to be involved in three harassment cases over the past two months.

The prosecution applied for Ong to be remanded for a week for further investigation. His case will be mentioned on on Jan 22.