Man Arrested For Loansharking Activities
The Police have arrested a 30-year-old man for his suspected involvement in loansharking activities.
On 11 November 2018, the Police received a report on loanshark harassment where brown paint was splashed on a residential unit located at Blk 373 Clementi Ave 4. Through ground enquiries and with the aid of images from police cameras and other cameras in the area, officers from Clementi Police Division established the identity of the man and arrested him on 15 November 2018.
Preliminary investigations revealed that the man is believed to be involved in other cases of loanshark harassment reported in Clementi and Yishun housing estates.
The man will be charged in court on 17 November 2018 under the Moneylenders Act (2010 Revised Edition). Under the Moneylenders Act (2010 Revised Edition), 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