SINGAPORE - Police have arrested two men aged 19 and 20 for their suspected involvement in loansharking activities.
The duo were arrested along Tampines Street 22 and Pasir Ris Street 71 on Tuesday after a loanshark harassment case at Tampines Street 41 was reported to the police.
One mobile phone, a black marker and one debtor note were seized for investigations.
Preliminary investigations revealed that both men were believed to have carried out acts of harassment in Tampines and Pasir Ris housing estate by locking debtor’s unit with a bicycle lock and pasting debtor notes on the gates of the units.
Under the Moneylenders Act, first time offenders found guilty of loanshark harassment face a fine of $5,000 to $50,000, mandatory imprisonment of up to five years and caning of up to six strokes.