Man arrested for suspected involvement in loansharking activities

Items seized in connection to the case

SINGAPORE - The police have arrested a 58-year-old man for his suspected involvement in loansharking activities.

On Sep 17, 2014 at about 6.15pm, officers from the Bukit Batok Neighbourhood Police Centre arrested a 58-year-old man in the vicinity of Gangsa Road for assisting loanshark syndicates.

Preliminary investigations revealed that the suspect is a debtor-turned-runner.

He is believed to have assisted loanshark syndicates by procuring Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from other debtors and using them to perform ATM transactions related to unlicensed moneylending businesses.

The suspect is also believed to have assisted loanshark syndicates in verifying the identities of potential borrowers and subsequently handing over the monies to them.

Upon his arrest, the police seized two ATM cards and two mobile phones in connection to the case.

First time offenders found guilty of assisting in unlicensed moneylending operations may be fined between $30,000 and $300,000, be imprisoned for a term for up to four years and shall also be liable to be caned a maximum of six strokes.

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