Police have arrested a 43-year-old man for his suspected involvements in loansharking activities.
On 9 April 2015 at about 10.35pm, acting on information received, officers from Jurong Police Division arrested a 43-year-old man at Bukit Batok Central for assisting loanshark syndicate. Preliminary investigations revealed that the suspect is believed to be a debtor-turned-runner, who assisted a loanshark syndicate to procure Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from other debtors to perform ATM transactions related to unlicensed moneylending businesses. Two handphone, four ATM cards and cash amounting to $130/- were seized in connection to the case.
The suspect will be charged in Court on 11 April 2015. Under the Moneylenders Act 2010 (Revised Edition), first-time offenders found guilty of carrying on the business as an unlicensed moneylender or assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than six strokes.
SINGAPORE POLICE FORCE
10 April 2015 @ 7:55 PM