Two Men Arrested For Loansharking Activities
The Police have arrested two 20-year-old men for their suspected involvement in two separate cases of loanshark harassment.
In the first case, on 31 January 2019, the Police were alerted to a case of loanshark harassment where the gate of a residential unit at Blk 29 Jalan Bahagia was locked with a bicycle chain and a debtor’s note was left on the door. Through ground enquiries, officers from Tanglin Police Division established the identity of the man and arrested him on 11 February 2019.
In the second case, on 12 February 2019, the Police received a report of a case of loanshark harassment where the gate of the residential unit at Blk 155 Jalan Teck Whye was locked with a bicycle chain. Officers from Jurong Police Division established the identity of the man and arrested the him on the same day.
Preliminary investigations revealed that both men are believed to be involved in other similar cases reported islandwide.
Both men will be charged in court on 13 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 have zero tolerance for loanshark harassment activities. Those who deliberately vandalise properties, and cause annoyance and disruptions to public safety will be dealt with severely in accordance with the law.
Members of the public are advised to stay away from loansharks and not work with or assist the loansharks in any way. 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