Four men arrested over two days in relation to loansharking activities
Published on Aug 19, 2014 8:32 PM
SINGAPORE - Four men aged between 32 and 55 have been arrested for suspected involvement in two cases of loansharking.
Three of the quartet were arrested over Monday and Tuesday for assisting the loanshark syndicates. Preliminary investigations indicated the suspects themselves owed debts. They are believed to have opened bank accounts and given their ATM cards and pin numbers to loansharks to facilitate their businesses.
The fourth, a 32-year-old man, was arrested separately on Tuesday in the vicinity of Block 741 Yishun Avenue 5 for alleged involvement in loansharking harassment. Preliminary investigations revealed he had acted as a lookout for a woman, arrested earlier last week, who carried out a series of island-wide scrawls to leave loansharking graffiti on walls.
The man is expected to be charged in court on Wednesday for assisting the business of an unlicensed moneylender, and may be fined between $30,000 and $300,000. He may also be imprisoned for up to four years and be liable to be caned up to six strokes.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here