Police have arrested a 33-year-old man for his suspected involvement in loansharking activities.
On 21 September 2015, through follow-up investigations, officers from Ang Mo Kio Division arrested the 33-year old man along Stirling Road for his suspected involvement in loanshark activities. Preliminary investigations indicated that the man, a debtor-turned-runner, is believed to have assisted an unlicensed moneylending syndicate by taking photographs of debtors units in Ang Mo Kio, Serangoon and Hougang.
The man will be charged in Court on 23 September 2015 under the Moneylenders Act 2010 (Revised Edition). Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of assisting in the carrying out of the business of an unlicensed moneylender may be fined not less than $30,000 and not more than $300,000/-, be imprisoned for a term not exceeding 4 years and shall also be liable for caning with not more than 6 strokes.
SINGAPORE POLICE FORCE
22 September 2015 @ 4:50 PM