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Tuesday, July 17th, 2018

Man Arrested for Loanshark Harassment

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by February 13, 2018 Education

The Police have arrested a 26-year-old man for his suspected involvement in loansharking activities.

On 31 January 2018, the Police were alerted to a case of loanshark harassment where two residential units along Jelebu Road were locked with bicycle locks. A piece of debtor’s note was also pasted on the gate of one of the units. Through extensive ground enquiries and images from Police Cameras (POLCAM), officers from Jurong Police Division established the identity of the man and arrested him along Jurong West Street 41. Preliminary investigations revealed that the man is believed to be involved in several other cases of loanshark harassment island wide.

The man will be charged in Court on 14 February 2018 under the Moneylenders Act 2010 (Revised Edition). 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.

Source: Singapore Police Force

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