2 arrested for involvement in loanshark harassment

2 arrested for involvement in loanshark harassment

Police have arrested two men, aged 49 and 54, for involvement in loanshark harassment.

On September 10, 2013 at about 2pm, officers from Ang Mo Kio Police Division spotted the 49-year-old male suspect behaving suspiciously along Admiralty Link and conducted a check on him.

The suspect was found to be in possession of loanshark harassment paraphernalia, which included packets of paint and markers, and was placed under arrest. After follow-up investigations, the officers arrested his accomplice, a 54-year-old male suspect, in the vicinity of Admiralty Link.

Preliminary investigations indicate that the suspects had assisted loansharks by collecting ATM cards and carrying out electronic fund transactions via Automated Teller Machines (ATM).

Investigations further revealed that both suspects had committed acts of loanshark harassment by splashing paint and scrawling loanshark-related graffiti on the walls of debtors’ units.

Both suspects will be charged in Court on September 12, 2013 for loanshark harassment under the Moneylenders Act (Revised Edition 2010). First-time offenders found guilty of loanshark harassment face a fine of between $5,000 and $50,000 with mandatory imprisonment of up to five years and mandatory caning of up to six strokes.

 

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