The Police have arrested a 36 year old man in the vicinity of Clementi Ave 3 for his suspected involvement in loansharking activities on 11 April 2015 at about 5.30pm.
Preliminary investigations by Clementi Division revealed that the suspect is a debtor-turned-runner who assisted the loanshark syndicates to procure Automated Teller Machine (ATM) cards with Personal Identification Numbers (PINs) from debtors. Upon his arrest, one ATM card, and two mobile phones were seized as case exhibits. Investigations are ongoing .
Under the Moneylenders Act (Revised Edition 2010), 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
12 April 2016 @ 10:40 AM