4 men arrested for loansharking activities

4 men arrested for loansharking activities

Police have arrested four men aged between 19 and 26 for their involvement in loansharking activities in two separate cases.

In the first case, police officers from Clementi Police Division arrested a 19-year-old suspect on Sep 4 in the vicinity of Geylang Bahru for his involvement in loan sharking activities.

Subsequently, on the same day between 11.45 am and 12.00 pm, his two accomplices aged 20 and 21 years were also arrested. Preliminary investigations revealed that all three suspects were believed to be involved in cases of loan shark harassment in Tanglin Halt, Bukit Batok, Hougang, Jurong, Ang Mo Kio and Boon Lay.

In the second case, a resident living in the vicinity of Clementi Avenue 5 reported that her unit had been splashed with paint and locked with a bicycle lock on Aug 29 at about 8.24 pm.

Through follow-up investigations, Police officers from Clementi Division arrested a 26-year-old male suspect in the vicinity of Ang Mo Kio Avenue 1 on Sep 4 at about 9.05 pm.

Preliminary investigations revealed the suspect is believe to be involved in loan shark harassments cases in Clementi and Woodlands housing estates.

The four suspects will be charged in court on Sep 6 2013. Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of loanshark harassment may face a jail term of up to 5 years, a fine of between $5,000 and $50,000, and shall also be liable to caning of up to 6 strokes. Any person who is guilty of providing false contact information to obtain loans from loansharks may also be jailed for up to 12 months.



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