Police have arrested a 46-year-old man for providing false contact information to loansharks in order for them to obtain loans. The 46-year-old suspect was arrested on April 24 at about 8.15pm in the vicinity of Ang Mo Kio Avenue 9.
Preliminary investigations indicate that the suspect is a debtor who had used his previous residential address to obtain illegal loans form loansharks. This resulted in the current owner and occupants of his previous residence being harrassed by loansharks. Investigations also showed that the suspect had failed to report the change of his residential address within 28 days.
Under the Moneylenders Act (Revised Edition 2010), any person who is guilty of providing false contact information to obtain loans from loansharks shall be liable to a jail term of not more than 12 months. Under the National Registration Act, any person who is found guilty of failing to report a change in address shall be liable to a fine not exceeding $5000 or a jail term not exceeding five years, or to both.
Commander of Ang Mo Kio Police Division Keok Tong San said that the police take a serious view of individuals who borrow from illegal moneylenders using their old or false addresses and as a result cause undue distress to innocent parties.