3 loanshark runners arrested

The police have arrested two men and one woman aged between 26 and 49 for suspected involvement in two separate cases of loanshark syndicate assistance.

Between May 28 and June 2, the police received reports that two cars had been defaced with black paint and debtor notes at the car parks of Block 174 Bukit Batok West Avenue 8 and Block 947 Jurong West Street 91.

Officers from Jurong Division established the identities of the male suspects and arrested them on June 29.

Preliminary investigations revealed that the men, aged 26 and 30, had splashed black paint on cars and pasted debtor notes on the behalf of loanshark syndicates.

Further investigations revealed that the 26-year-old suspect had also performed ATM transactions related to unlicensed moneylending operations. The police seized four ATM cards, one mobile phone and cash amounting to $260 as case exhibits.

In a separate case, a 49-year-old female suspect was arrested in the vicinity of Ubi View on June 29. She had facilitated unlicensed moneylending businesses by procuring ATM cards with PINs for a loanshark syndicate.

First time offenders found guilty of loanshark harassment will face a jail term of up to five years, a fine between $5,000 and $50,000, and between three and six strokes of caning.

Meanwhile, first-time offender found guilty of carrying on the business as an unlicensed moneylender or assisting in the business of unlicensed moneylending will face a fine between $30,000 and $300,000, a jail term of up to four years and up to six strokes of caning.


More about

Purchase this article for republication.



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