The Police have arrested a 41-year-old man for his suspected involvement in loansharking activities.
On 23 July 2017, the Police received a report of loanshark harassment, whereby a residential unit in Woodlands was being chained and locked up, and a loanshark-related note was found affixed on the unit’s main door.
Through extensive probes and enquiries, officers from Jurong Police Division established the identity of the suspect and arrested him at Woodlands Checkpoint on 27 July 2017. Following the arrest, items including cash amounting to S$14,000, four Automated Teller Machine (ATM) cards and a mobile phone were seized as case exhibits. Preliminary investigations revealed that the suspect had planned to courier the monies from loansharking activities to Johor Bahru, Malaysia.
The suspect will be charged in Court on 29 Jul 2017 for the offence of Assisting the Business of Unlicensed Moneylending under Section 14(1)(b)(i) of the Moneylenders’ Act (Revised Edition 2010), Chapter 118, which carries a fine of not less than $30,000 and not more than $300,000 and with imprisonment for a term not exceeding 4 years.
SINGAPORE POLICE FORCE
28 July 2017 @ 11:50 PM