Loansharks use prospective borrower to harass debtor

Loansharks use prospective borrower to harass debtor

SINGAPORE - A 69-year-old was tricked by an unlicensed moneylender into helping with the harassment of a debtor who had defaulted on payment.

Police said in a statement that the 69-year-old was a prospective borrower who was told to slip his NRIC under the door at a residential address belonging to a 54-year-old debtor. When he did the loan he was promised, the prospective borrower knocked repeatedly on the debtor's door.

Police warn that unlicensed moneylenders are using prospective borrowers to harass debtors who had defaulted on payments.

Police are conducting investigations against the 69-year-old for the offence of harassment by causing annoyance.

First time offenders found guilty of loanshark harassment could be jailed up to five years, fined between $5,000 to $50,000, and also caned.

Further investigations revealed that the 54-year-old Singaporean debtor had also assisted loansharks by opening a bank account for their use. He was subsequently placed under arrest.

A first time offender found guilty of assisting loansharks in unlawful activities may be jailed up to four years and fined between $30,000 and $300,000.

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