Men, aged 23 and 19, arrested for loanshark activities

Men, aged 23 and 19, arrested for loanshark activities

SINGAPORE - Police have arrested two men, aged 23 and 19, for their suspected involvement in two separate cases of loansharking activities.

The first case occurred on June 18, when police received a report of paint splashed on the main door of a residence at Block 772 Woodlands Drive 60. The unit's occupant also found his gate locked with a bicycle lock, and loanshark graffiti written on the wall.

Images of the suspect were obtained from Police cameras (PolCams) installed in the vicinity. He was arrested on Tuesday at Syed Alwi Road.

Police believe that the 23-year-old suspect is a debtor-turned-harasser. He had assisted the loanshark syndicates by harassing debtors in Jurong West, Tampines, Woodlands, Hougang, Yishun and Sembawang public housing estates.

Further investigation also revealed that the suspect had opened bank accounts and given away his Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to the loanshark syndicates to facilitate their unlicensed moneylending businesses.

One mobile phone containing information on debtors, two marker pens, four bicycle locks and four cans of paint were seized from him.

The suspect will face court on June 25.

In another case, police arrested a 19-year-old male suspect at Ang Mo Kio Avenue 8 on Tuesday. He is believed to have assisted loansharks in performing fund transfers and collecting ATM Cards from debtors who could not make repayments. A total of four ATM cards and three mobile phones were found on him.

First time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined between $30,000 and $300,000. They also face up to four years in jail and may be given up to six strokes of the cane.

First time offenders guilty of loanshark harassment can be jailed up to 5 years, and be fined between $5,000 and $50,000. They may also face between three to six strokes of the cane.

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