Police arrest 2 men for loanshark activities

Police arrest 2 men for loanshark activities

SINGAPORE - Police have arrested two men, aged 24 and 50, for their suspected involvement in loanshark harassment.

The two men, who were arrested at Ang Mo Kio Avenue 8 and South Woodlands Drive, are believed to be debtors-turned-runners who helped loanshark syndicates collect Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from debtors.

A total of four ATM cards, two mobile phones and $150 in cash were found on them.

They will face charges in court on Wednesday.

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 can also be jailed for up to four years and may also be caned up to six strokes.

ljessica@sph.com.sg

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

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