5 people arrested for loanshark activities

5 people arrested for loanshark activities

SINGAPORE - Five people aged between 18 to 22 have been arrested by the police for their involvement in loansharking activities in the vicinities of Jalan Kayu, Toa Payoh and Hougang.

Officers from Tanglin Police Division spotted two males and a female behaving suspiciously at a block in Toa Payoh on June 20 at about 2.50am.

A search yielded loanshark-related paraphernalia that included permanent markers, bottles of red paint and crayons.

Signs of loanshark harassment such as writings on a wall and burn marks on the metal gate of a unit were also spotted.

Two other male accomplices were also subsequently arrested in the vicinity of Ang Mo Kio Central.

According to a statement from the police, preliminary investigations indicate that the suspects are debtors-turned-harassers, and they carried out other acts of harassment at Jalan Kayu and Hougang.

The five suspects will be charged in Court on June 21 under the Moneylenders Act 2010 (Revised Edition).

First-time offenders found guilty of loanshark harassment may be punished with imprisonment of up to five years, a fine of not less than $5,000 and not more than $50,000, and caning of not less than three and not more than six strokes.

grongloh@sph.com.sg

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