The Police have arrested two men, aged 36 and 43 for their suspected involvement in loansharking activities in two separate cases.
In the first case, on 30 September 2016, the Police received a report on loanshark harassment whereby paint was splashed at the front door and loanshark-related graffiti were found scrawled on the wall of a residential unit along Woodlands Avenue 3. Through extensive ground enquiries and footages from Police Cameras (POLCAMs), officers from Jurong Division arrested the 43-year-old suspect along Jurong West Street 81 on 3 October 2016. Preliminary investigations revealed that the suspect is believed to have carried out similar acts of harassments at Woodlands, Jurong West, Yishun and Holland Avenue housing estates. A sling bag, laptop bag and one mobile phone were seized as case exhibits.
In the second case, the Police arrested a 36-year-old man along Woodlands Avenue 1 on 3 October 2016 for his suspected involvement in loansharking activities. Preliminary investigations revealed that the suspect is believed to be a debtor-turned-runner who assisted the loanshark syndicates to procure ATM cards with PINs from to perform ATM fund transactions. Ten ATM cards, transaction receipts, three banking tokens, one mobile phone and cash amounting to $2450/- were seized as case exhibits.
The two suspects will be charged in Court on 5 October 2016 under the Moneylenders Act (Revised Edition 2010).
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 5 years and mandatory caning of up to 6 strokes. 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.
Case exhibits seized in first case
Case exhibits seized in second case
SINGAPORE POLICE FORCE
04 October 2016 @ 4:30 PM