3 men arrested for assisting loanshark syndicates

SINGAPORE - The police have arrested three men, aged between 33 and 61, for suspected involvement in loansharking activities in three separate cases.

In the first case, a 48-year-old man was arrested on Thursday in the vicinity of Anson Road allegedly opened bank accounts and gave away his Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to facilitate unlicensed moneylending businesses. Investigations against the suspect in this case are on-going.

Meanwhile, in the second case, the police arrested a 33-year-old man on the same day for collecting ATM cards and PINs from other debtors. Investigations further revealed that the suspect had also given away his ATM cards and PINs to the loansharks to facilitate their businesses. Upon his arrest, police had seized two ATM cards and one handphone in connection to the case.

The third suspect, a 61-year-old man, was arrested later the same day in the vicinity of Jurong West Street 65 after preliminary investigations indicated that he is a debtor-turned-runner and had assisted the loanshark syndicates by collecting ATM cards and PINs from other debtors. Upon his arrest, police had seized eleven ATM cards and two handphones in connection to the case.

The suspects in the second and third case will be charged in Court tomorrow. If found guilty of assisting in the carrying on of the business of an unlicensed moneylender, first-time offenders 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.

ellenja@sph.com.sg