The Police arrested seven men and one woman aged between 32 and 61, for their suspected involvement with a loansharking syndicate during a twelve-hour operation on 12 April 2016.
Following extensive ground enquiries, officers from the Criminal Investigation Department (CID) and the Police Intelligence Department (PID) conducted simultaneous raids at multiple locations islandwide, resulting in the arrests. During the operation, cash amounting to about $29,000/-, mobile phones, Automated Teller Machine (ATM) cards, internet banking dongles, note books, a bank book and bank transaction slips were seized as case exhibits. Preliminary investigations revealed that the suspects are believed to be involved in various roles in the loansharking syndicate including the collection of repayment and disbursement of new loans to borrowers.
Six of the suspects will be charged in Court on 14 April 2016 for offences under the Moneylenders Act (Revised Edition 2010). Investigations against the remaining two male suspects, aged 32 and 52, are ongoing.
Head of the Unlicensed Moneylending Strikeforce of CID, Superintendent of Police Loh Kah Wai commended the officers involved for their tenacity which resulted in the successful operation. He said, “Police will continue with our relentless enforcement efforts to track down those involved in the loansharking business and bring them to justice.”
Members of public are advised to stay away from loansharks and not to work with or assist loansharks in any way. The public can call the Police at ‘999’ or the X-Ah Long hotline at 1800 924 5664 if they suspect or know of anyone who could be involved in illegal loansharking activities.
SINGAPORE POLICE FORCE
13 April 2016 @ 1:10 PM