Man arrested on suspicion of loanshark harassment

Man arrested on suspicion of loanshark harassment

SINGAPORE - A 57-year-old man has been arrested for his suspected involvement in loansharking activities, said police in a statement on Friday.

He was detained in the vicinity of Hougang Avenue 7 on Thursday following a phone call made to the police by a resident.

Loanshark-related paraphernalia, including a prepaid phonecard, a piece of debtor's note and a mobile phone were found in his possession and seized.

Preliminary investigations indicate that the suspect is a debtor-turned-runner who assisted loansharks in carrying out harassment activities.

Investigations against the suspect are ongoing. First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender face a fine of between $30,000 and $300,000, a jail term of up to four years and up to six strokes of the cane.

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