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Woman Arrested For Loanshark Activities

by January 9, 2018 Industry

The Police have arrested a 38-year-old woman for her suspected involvement in loanshark activities.

On 31 December 2017 at about 12 pm, the Police were alerted to a case of loanshark harassment at Blk 144 Lorong 2 Toa Payoh. The main door and gate of a residential unit were splashed with blue paint and a debtor’s note was found on the floor. Through extensive ground enquiries, officers from Tanglin Police Division arrested the woman on 9 January 2018. Preliminary investigations revealed that the woman may be involved in multiple cases of loanshark harassment island-wide.

The woman will be charged in Court on 11 January 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.

Source: Singapore Police Force