3 arrested for unlicensed moneylending activities

SINGAPORE - Police have arrested one man and two women for unlicensed moneylending activities in two separate cases.

In the first case, police officers arrested the 22-year-old man along Hougang Ave 8 on May 28 at about 8.50pm.

Preliminary investigations revealed that he is believed to be a debtor-turned-runner and had assisted loansharks by performing monetary transfers.

In the second case, two women aged 25 and 52 were arrested on May 29 along Bedok South Ave 3.

Preliminary investigations revealed that both women are believed to have carried out several acts of harassment at Tampines, Bedok and Simei housing estates. A mobile phone belonging to one of the women was seized for investigations.

The man and 25-year-old woman will be charged in court on May 30 and 31 respectively, while the 52-year-old woman has been released on police bail.

If found guilty, first time offenders assisting in the carrying on of the business of an unlicensed moneylender may be fined between $30,000 and $300,000, be jailed for up to four years and shall also be liable for caning up to six strokes.

First time offenders found guilty of loanshark harassment face a fine of at least $5,000 to $50,000, jail term of up to five years and also mandatory caning of up to six strokes.