Two arrested for loansharking activities

Two arrested for loansharking activities

SINGAPORE - Police have arrested a 41-year-old man and a 26-year-old woman for their involvement in loansharking activities in two separate cases.

In the first case, the woman was arrested in Bukit Batok East Ave 4 on Sept 2 at about 7.30pm.

She is believed to be a debtor who had used her previous residential address to obtain illegal loans from the loansharks, resulting in the current owner and occupants of her previous residence to be victims of loanshark harassment.

She had failed to report the change of her residential address within 28 days. Investigations against her are still ongoing.

In the second case, the man was arrested on Sept 3 at about 2.30am at Jurong West Street 73.

He is believed to be a debtor-turned-harasser and he had carried out series cases of loanshark harassment in Hougang, Jurong West and Ang Mo Kio public housing estates by scrawling loanshark-related graffiti on the walls. One mobile phone and one marker pen were seized from him.

The man will be charged in court. Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of loanshark harassment shall be punished with imprisonment for a term of up to 5 years, a fine of between $5,000 and $50,000, and shall also be liable to caning of between 3 and 6 strokes. Any person who is guilty of providing false contact information to obtain loans from loansharks shall be liable upon conviction to imprisonment for a term not exceeding 12 months.

Under the National Registration Act, any person who is guilty of an offence of failing to report a change of address shall be liable on conviction to a fine not exceeding $5,000/- or to imprisonment for a term not exceeding 5 years or to both.

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