Seven arrested for suspected loanshark activities

SINGAPORE - Seven men aged between 16 and 45 have been arrested for suspected involvement in loansharking activities.

Three of them, aged between 16 and 18, were stopped and searched by the police on the early hours of Monday morning along Clementi Road.

"Preliminary investigations revealed that the three suspects are believed to have committed loanshark harassment by spraying paint and scrawling loanshark-related graffiti on the walls of the Housing Board blocks in the vicinity of Clementi Housing Estate," said the police in a statement on Monday evening.

They are also believed to be involved in similar cases in Tampines, Hougang, and Bedok.

Further investigation resulted in the arrests of another two 17-year-olds near Boon Lay Drive, whom the police believe have been involved in similar harassment cases in Tampines, Bedok, Toa Payoh, and Jurong West.

Another two men, aged 16 and 45, were also arrested for suspected involvement in recruiting for loanshark syndicates.

First-time offenders guilty of loanshark harassment can be fined between $5,000 and $50,000, jailed up to five years, and punished with up to six strokes of the cane.

First-time offenders guilty of doing business as an unlicensed moneylender can be fined between $30,000 and $300,000, jailed up to four years, and also punished with up to six strokes of the cane.