Police have arrested a 36-year-old man for his suspected involvement in loansharking activities.
On 13 April 2015 at about 9.10pm, acting on information received, officers from Jurong Police Division arrested the man at Woodlands Square for assisting a loanshark syndicate.
Preliminary investigations revealed that the suspect is a debtor-turned-runner. He had 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. Upon his arrest, one handphone and three ATM cards were seized in connection to the case.
The suspect will be charged in State Courts on 15 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
14 April 2015 @ 7:45 PM