Man Arrested For Loansharking Activities

The Police have arrested a 31-year-old man for his suspected involvement in loansharking activities.

On 6 February 2017, the Police received a report on loanshark harassment where a residential unit at Blk 209C Punggol Place was splashed with paint and loanshark-related graffiti were found scrawled on the wall. Through extensive ground enquiries and with the aid of images from Police cameras (POLCAMs), officers from Ang Mo Kio and Central Police Division established the identity of the suspect and arrested him on 6 June 2017. Preliminary investigations revealed that the suspect is believed to be involved in another loanshark harassment case in Toa Payoh.

The suspect will be charged in Court on 8 June 2017 under the Moneylenders Act 2010 (Revised Edition). Under the Moneylenders Act (Revised Edition 2010), 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.

Source: Singapore Police Force

Related Post
YANGON, MYANMAR Proposals put forward by Myanmar's government to add further restrictions to a controversial
Registered foreign portfolio investments in February 2018 amounted to US$1.0 billion, 36.6 percent lower than
The police have arrested a 24-year-old man for his suspected involvement in loanshark harassment activities.