Police arrest three men for loansharking activities

Police arrest three men for loansharking activities

SINGAPORE - Three male suspects, aged between 28 and 29, have been arrested for their suspected involvement in loansharking activities in two separate cases.

Through follow-up investigations on a case of loanshark harassment at Blk 719 Pasir Ris Street 72, police officers arrested the 29-year-old suspect along Ubi Ave 4 yesterday afternoon at 2pm.

A 28-year-old suspect was also arrested at Jurong West St 65 yesterday in relation to the same case.

Preliminary investigations revealed that the two suspects are believed to be involved in several cases of loanshark harassments island-wide, by splashing paint and scrawling loanshark graffiti on the walls. Two mobile phones were seized for investigations.

In the second case, police officers arrested another 28-year-old male suspect at Hougang Ave 9 yesterday at 3.40pm.

Preliminary investigations revealed that the suspect is believed to have assisted loansharks by collecting ATM cards from debtors who were unable to make repayments. Investigations against the suspect are on-going.

The two suspects in the first case will be charged in court tomorrow for loanshark harassment.

Under the Moneylenders Act, first-time offenders found guilty of loanshark harassment will face a fine of between $5,000 and $50,000 with mandatory imprisonment of up to five years and mandatory caning of up to six strokes.

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, face imprisonment for up to four years and shall also be caned up to six strokes.


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