Man, 33, arrested for involvement in loanshark activities

Man, 33, arrested for involvement in loanshark activities
PHOTO: The Straits Times

SINGAPORE - Police have arrested a 33-year-old man for his suspected involvement in loansharking activities around Singapore.

On Sep 21, the suspect was arrested along Stirling Road by officers from Ang Mo Kio Division.

Preliminary investigations indicated that the man is believed to be a debtor-turned-runner and has assisted an unlicensed money-lending syndicate by taking photographs of debtors' units in Ang Mo Kio, Serangoon and Hougang.

First-time offenders found guilty of assisting unlicensed moneylending businesses could face a fine between $30,000 and $300,000, a jail term of up to four years and also be liable to a maximum of six strokes of the cane.

wjeanne@sph.com.sg 

More about

Purchase this article for republication.

BRANDED CONTENT

SPONSORED CONTENT

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