In an islandwide operation against a loansharking syndicate which commenced on 25 May 2015 and ended this morning, Police arrested 10 men, aged between 26 and 58, for their suspected involvement in loansharking activities.
2 Following extensive probes and investigations, officers from the Criminal Investigation Department (CID) and Police Intelligence Department (PID) conducted simultaneous raids at various locations in Ang Mo Kio, Marine Crescent, Bukit Merah, Bukit Timah, and Whampoa, resulting in the arrests. During the operation, cash of about $6,400, mobile phones, Automated Teller Machine (ATM) cards, banking slips and bank account books were seized as case exhibits. Preliminary investigations revealed that the suspects are believed to be involved in various roles in the loansharking syndicate.
3 All 10 suspects will be charged in Court on 27 May 2015 for various offences under the Moneylenders Act (Revised Edition 2010).
4 Deputy Commissioner of Police (Investigations & Intelligence) concurrent Director CID, Tan Chye Hee commended the officers for their hard work and commitment which resulted in the successful operation. He said, “Police are determined to clamp down on all unlicensed moneylending activities. Regardless of their roles in the loansharking business, Police will spare no effort to apprehend these criminals and bring them to justice.”
SINGAPORE POLICE FORCE
26 May 2015 @ 3:30 PM