26 people arrested for suspected involvement in loansharking activities

26 people arrested for suspected involvement in loansharking activities

SINGAPORE - Police have arrested 26 people, aged between 20 and 57, for being involved in seven separate cases of loanshark activities.

First case: 14 men and five women were arrested by officers from Jurong Police Division between Sep 24 and 25. The suspects are believed to be debtors who have have opened bank accounts and given away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loansharks to facilitate their businesses.

Second case: After follow-up investigations, officers from Jurong Police Division arrested a 24-year-old man in the vicinity of Choa Chu Kang Avenue 4 on Sep 24 at about 12.00pm. Preliminary investigations revealed that the suspect is a debtor and he had assisted the loanshark syndicates to distribute flyers, which promote unlicensed moneylending businesses.

Third case: Officers from Jurong Police Division arrested a 24-year-old woman for using her bank account and ATM card to perform ATM fund transactions for the loanshark syndicates. She was arrested on Sep 25 at about 12.10pm in the vicinity of Jurong West Avenue 5.

Fourth case: After receiving a tip-off, officers from Jurong Police Division arrested a 45-year-old man on Sep 25 at about 2.35pm in the vicinity of Woodlands Street 83. Preliminary investigations revealed that the suspect is operating an unlicensed moneylending business and had issued unlicensed loans to borrowers.

After a search, officers found one laptop, one computer processing unit, five record books and notes, three handphones, nine bank passbooks and one ATM card in his possession. The items were seized as case exhibits.

Fifth case: Officers from Jurong Police Division were on patrol when they arrested two men, aged 29 and 46, in the vicinity of Block 501 Jurong West Ave 1 on Sep 25, around 7.30pm.

Preliminary investigations revealed that both suspects are debtors-turned-runners. They had assisted the loanshark syndicates to procure ATM cards from other debtors and used them to perform ATM fund transactions. Police seized cash amounting to $16,400, five handphones and six ATM cards in connection to the case.

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