SINGAPORE - Police have arrested a 23-year-old man for involvement in loansharking activities.
On Sep 9, 2013 at about 6.10pm, through follow-up investigations, officers from Ang Mo Kio Police Division arrested the 23-year-old man in the vicinity of Hougang Avenue 9.
Preliminary investigations indicated that the man had assisted an unlicensed moneylender in the business of sourcing and recruiting potential harassers to commit loanshark harassment at borrowers' units.
Police investigations against the man are on-going.
First-time offenders found guilty of assisting in the carrying out of the business of an unlicensed moneylender may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning of not more than six strokes.
Commander of Ang Mo Kio Police Division, Assistant Commissioner of Police Keok Tong San, commended his officers for their perseverance and commitment in the fight against loansharking activities.
He said, "Police are determined to come down hard on all those who are involved in loansharking activities, regardless of their age or gender."