The Police have arrested a 26-year-old man for his suspected involvement in loansharking activities.
On 12 October 2016, officers from Jurong Division arrested the suspect along Woodlands Avenue 6 after acting on information received.
Preliminary investigations revealed that the suspect is believed to be a debtor-turned-runner who assisted an unlicensed moneylending syndicate to procure Automated Teller Machine (ATM) cards and Personal Identification Numbers from other debtors to facilitate unlicensed moneylending transactions.
The suspect is also believed to have used his personal ATM card to facilitate unlicensed moneylending ATM transactions and assisted with the collection of repayments from debtors. Other than that, he allegedly carried out acts of harassment by affixing loanshark-related notes at residential units in Bukit Batok, Jurong West, Hougang, Tampines and Clementi housing estates. Two ATM cards, one banking token, a transaction receipt, three loanshark-related notes, one pouch and a mobile phone were seized as case exhibits.
The suspect will be charged in Court on 14 October 2016 under the Moneylenders Act (Revised Edition 2010). First-time offenders found guilty of 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. First-time offenders found guilty of loanshark harassment shall be fined not less than $5,000 and not more than $50,000 with mandatory imprisonment of up to 5 years and mandatory caning of up to 6 strokes.
SINGAPORE POLICE FORCE
13 October 2016 @ 3:30 PM