16 arrested in crackdown on loanshark syndicate

SINGAPORE: Police have arrested 16 people in an island—wide crackdown on loansharking.

The 13 men and three women, aged between 15 and 60, were arrested in a 16—hour blitz which began on October 23 and ended Wednesday.

Some S$15,000 in cash, 25 mobile phones, SIM cards, Automated Teller Machine (ATM) cards and computers were among the items seized.

The police operation comprised raids in various areas of Singapore, including Boon Lay, Jurong East, Woodlands, Jalan Bukit Merah, Cantonment Road, Pasir Ris, Ang Mo Kio and Bukit Timah Road.

Those arrested are believed to be part of a loanshark syndicate.

They are also believed to be involved in collecting repayments from debtors via ATM transactions and carrying out harassment at debtors’ residences.

The syndicate is believed to be behind more than 100 harassment cases.

Five of the suspects will be charged in court on October 25.

Investigations against the remaining suspects are ongoing.

Persons found guilty found guilty of operating or helping to operate a loansharking business may be fined between S$30,000 and S$300,000.

They will be jailed up to four years, and can be given six strokes of the cane.

Persons found guilty of committing loanshark harassment can be jailed up to five years.

They can also be fined between S$5,000 and S$50,000 and given six strokes of the cane.

— CNA/fa