The Police have arrested a 30-year-old man for his suspected involvement in loansharking activities.
On 5 November 2019, the Police were alerted to two separate cases of loanshark harassment where the doors of two residential units located along West Coast Road and Ang Mo Kio Avenue 5 were set on fire. Through investigations, officers from the Criminal Investigation Department, Clementi Police Division and Ang Mo Kio Police Division established the identity of the man and arrested him on 6 November 2019.
The man will be charged in court on 8 November 2019 under the Moneylenders Act (Revised Edition 2010). 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 five years, and mandatory caning of up to six strokes. In the case of a second or subsequent conviction, offenders shall be liable to a fine of not less than $6,000, and not more than $60,000, with mandatory imprisonment of between two to nine years, and mandatory caning of up to 12 strokes.
The Police have zero tolerance against loanshark harassment activities. Those who cause hurt, endanger lives, deliberately vandalise properties, or cause annoyance and disruptions to public peace and security will be arrested and dealt with severely in accordance with the law.
Members of the public are advised to stay away from loansharks and not to work with or assist them 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
07 November 2019 @ 6:15 PM