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Monday, November 18th, 2019

Two Arrested For Loansharking Activities

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by February 13, 2019 Business

The Police have arrested a 14-year-old teenager and a 36-year-old man for their suspected involvement in two separate cases of loanshark harassment.

In the first case, on 29 January 2019, the Police received a report of a case of loanshark harassment where the gate of the residential unit at Blk 204 Petir Road was locked with a bicycle chain and a debtor’s note was left on the door.

In the second case, on 10 February 2019, the Police were alerted to a case of loanshark harassment where the door of a residential unit at Blk 631 Jurong West Street 65 was splashed with black paint. Through ground enquiries and with the aid of images from police cameras, officers from Jurong Police Division established the identities of the two suspects and arrested them on 12 February 2019.

Preliminary investigations revealed that both suspects are believed to be involved in other similar cases reported islandwide.

Both suspects will be charged in court on 14 February 2019 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.

The Police would like to advise everyone to steer clear from all forms of loansharking-related activities, and not be tempted by the offer of quick and easy money. Parents should also be mindful of their children’s activities and educate them not to fall prey to these unscrupulous criminals. The punishment for loansharking-related offences are severe, and parents must intervene promptly should their children display tell-tale signs of being under the influence of bad company. 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 loansharking activities.

Source: Singapore Police Force

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