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Wednesday, June 20th, 2018

Three Teenagers Arrested For Loansharking Activities

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by May 1, 2018 Politics

The Police have arrested 3 teenagers, aged between 16 and 20, for their suspected involvement in loansharking activities.

On 1 May 2018, the Police received a report informing that three teenagers believed to be loanshark harassers had been detained. Preliminary investigations by officers from Tanglin Police Division revealed that the 19-year-old suspect is believed to have fled from a residential unit at Block 106 Lorong 1 Toa Payoh after slipping a debtor’s note beneath the unit’s door. The occupant of the unit who noticed the note, immediately looked for the suspect with his neighbour. The three suspects were subsequently detained in the vicinity. They are also believed to be involved in similar cases of loanshark harassment islandwide.

Two of the suspects will be charged in court on 2 May 2018 under the Moneylenders Act 2010 (Revised Edition). Investigations against the 16-year-old suspect are ongoing. First-time offenders found guilty of loanshark harassment shall be punished with imprisonment for a term not exceeding 5 years and shall also be liable to a fine of not less than $5,000 and not more than $50,000 with mandatory caning of not less than 3 and not more than 6 strokes.

Source: Singapore Police Force

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