Police have arrested a 30-year-old man this morning for his suspected involvement in loansharking activities.
On 22 February 2010 at about 8.30am, through follow-up investigations, officers from Ang Mo Kio Police Division arrested the suspect at his residence at Jalan Teck Whye. Bank books, ATM cards, SIM cards, bank transaction receipts and a mobile phone containing suspected debtors’ records were also seized as case exhibits. Preliminary investigations revealed that the suspect is believed to be a debtor-turned-runner who had assisted the loansharks by verifying debtors’ particulars, carrying out bank transfers, issuing loans and collecting loan repayments.
The suspect will be charged in Court on 23 February 2010 for the offence of assisting in the business of an unlicensed moneylender under the Moneylenders’ Act 2008.
First-time offenders found guilty of assisting an unlicensed moneylender to carry out his business could be fined not less than $20,000 and not more than $200,000 or imprisoned for a term not exceeding two years or both. Under the amended Moneylenders’ Act 2008 which came into effect on 11 February 2010, first-time offenders found guilty of the same offence could be fined not less than $30,000 and not more than $300,000, with a mandatory imprisonment term of up to four years and mandatory caning of up to six strokes.
| PUBLIC AFFAIRS DEPARTMENT SINGAPORE POLICE FORCE 22 February 2010 @ 7pm |
(source: Singapore Police Force, extracted 23 Feb 2010)
0 Responses to “Debtor-Turned-Runner Arrested”