SEVENTEEN people were arrested this morning in the largest crackdown of a loan-shark syndicate so far this year.

The 14 men and three women included a 48-year-old Singaporean businessman, believed to be the ringleader.

Police said he is the director of a company here, and they are investigating whether he has been using it as a front for loanshark activities.

The members working for him in the syndicate are between 32 and 60 years old.

All are Singaporean, with the exception of a Thai woman who is a permanent resident here.

Most of those arrested have had previous convictions, some for illegal moneylending activities as well.

With the arrests, the police believe they have nabbed the entire syndicate, which had been in operation for about two years.

More than $200,000 in cash, eight computers, two fax machines, 29 mobile phones, ATM cards and bank books were among the items that were seized.

The simultaneous raids of 15 locations - conducted by officers from the Police Intelligence Department and Criminal Investigation Department (CID) - were concentrated mainly in the eastern parts of Singapore such as Bedok, Changi and Tampines.

CID director Ng Boon Gay said the syndicate members were picked up in their homes or offices and did not put up a struggle.