Man Arrested For Loansharking Activities

The Police have arrested a 35-year-old man for his suspected involvement in loansharking activities.

On 17 November 2018, the Police were alerted to a case of loanshark harassment where a residential unit along Simei Street 4 was splashed with black paint and loanshark-related graffiti was scribbled on the walls. Through investigation and with the aid of images from police cameras, officers from Bedok Police Division established the identity of the man and arrested him along Clarke Quay on 19 November 2018. Preliminary investigations revealed that the man is believed to be involved in other similar cases of loanshark harassment at PasirRis, Beach Road, Ang Mo Kio, Toa Payoh, Sengkang and Jurong housing estates.

The man will be charged in court on 21 November 2018 under the Moneylenders Act 2010 (Revised Edition). First time offenders found guilty of loanshark harassment shall be fined not less than $5,000 and not more than $50,000 with mandatory imprisonment of up to 5 years, and mandatory caning of up to 6 strokes.

The Police have zero tolerance against loanshark harassment activities. Those who deliberately vandalise properties, cause annoyance and disruptions to public sense of safety, peace and security will be arrested and dealt with severely in accordance with the law.

Members of the public are advised to stay away from loansharks and not to work with or assist the loansharks in any way. The public can call the Police at ‘999’ or the X-Ah Long hotline at 1800-924-5664 if they suspect or know of anyone who could be involved in illegal loansharking activities.

Source: Singapore Police Force

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