2 suspected loanshark runners arrested

2 suspected loanshark runners arrested

SINGAPORE - Two men have been arrested for their suspected involvement in two separate cases of loansharking activities.

The first suspect, who is believed to be a debtor-turned-runner, was arrested yesterday at about 3.45pm. Five ATM cards and a mobile phone were seized from the 32-year-old as case evidence.

The second suspect, who is also believed to be a debtor-turned-runner, was arrested yesterday at about 5.45pm. Four ATM cards and a mobile phone were seized from the 44-year-old as case evidence.

The two suspects will be charged in court tomorrow. First-time offenders found guilty of carrying on the business as an unlicensed moneylender or assisting in the business of unlicensed moneylending face a fine of between $30,000 and $300,000, a jail term of up to four years and shall also be liable to up to six strokes of the cane.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.