Two men arrested for suspected involvement in loansharking activities

SINGAPORE - Two men have been arrested for their suspected involvement in separate cases of loansharking.

One of the suspects, a 32-year-old, was apprehended on Monday around Bukit Batok West Avenue 5. He believed to be a debtor-turned-runner who assisted loanshark syndicates to get ATM cards from other debtors. Five ATM cards and a mobile phone believed to be connected to the case were seized.

The other man, 44, was caught later that day near South Woodlands Drive.Four ATM cards and a mobile phone were seized.

Both men are expected to be charged on Wednesday.

First-time offenders found guilty of assisting in the business of unlicensed moneylending can be fined up to $300,000, imprisoned for up to four years, and get a maximum of six strokes of the cane.