Police arrest 2 suspects for assisting loanshark syndicates

Police arrest 2 suspects for assisting loanshark syndicates

SINGAPORE - Police have arrested two suspects, a 42-year-old woman and a 29-year-old man, for their suspected involvement in loansharking activities in two separate cases.

In the first case, the female suspect was arrested yesterday at 3.04pm at Bukit Batok Central.

Preliminary investigations revealed that she is believed to have assisted loanshark syndicates to earn extra revenue by obtaining ATM cards and PINs from other debtors and used them to perform ATM transactions related to unlicensed moneylending businesses.

For ATM cards and one mobile phone were seized from her possession.

In the second case, the male suspect was also arrested yesterday at 4.15pm at Teck Whye.

He is believed to be a debtor-turned-harasser and had assisted the loanshark syndicates to carry out loansharking harassments by splashing paint on the main door of debtors' residence and scribbling loanshark graffiti on the wall.

One can of paint, one marker pen, and one mobile phone were seized from his possession.

Both suspects will be charged in court tomorrow. Under the Moneylenders Act, first time offenders found guilty of assisting in the busienss of an unlicensed moneylender may be fined between $30,000 and $300,000, be imprisoned for up to four years and shall also be liable to caning of up to six strokes.

First time offenders found guilty of loanshark harassment shall be imprisoned for up to five years, face a fine between $5,000 and $50,000, and shall also be liable to caning of between three and six strokes.

klim@sph.com.sg

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