Couple arrested for loanshark activities

SINGAPORE - Police have arrested a 51-year-old man and 50-year-old woman for their suspected involvement in loan-sharking activities.

On Nov 4, 2013, a case of harassment was reported to the Police where the victim was harassed by a couple that was caught on CCTV footage from the victim's unit.

The CCTV images were disseminated to officers in Clementi Police Division to keep a lookout for them.

One of the officers recognised the couple having dealt with them previously.

The couple were subsequently traced and arrested for involvement in loansharking activities.

They were found to be in possession of five Automated Teller Machine (ATM) cards and two mobile phones, which were also seized as case exhibits.

Preliminary investigations revealed that the couple are debtors-turned-runners and believed to have assisted the loansharks in their business by conducting bank transfers and looking for debtors at their units.

Investigation against both of them are on-going.

First-time offenders found guilty of assisting in the carrying out of the business of an unlicensed moneylender may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years, and shall also be liable for caning with not more than six strokes.

Commander of Clementi Police Division, Deputy Assistant Commissioner of Police Melvin Yong, commended his officers for their vigilance and relentless efforts in the fight against loansharks.