Eight arrested for suspected involvement in loanshark activities
The police have arrested 7 men and a woman today for their suspected involvement in loanshark activities.
The arrests were made during a 7-hour islandwide operation against a loansharking syndicate that began at 12.30am this morning.
Three of the suspects are believed to have assisted the syndicate by issuing loans, collecting repayments from borrowers and sourcing for potential borrowers from their operating centres based overseas.
During the operation, the police also seized some $5,000 in cash and an assortment of loanshark-related paraphernalia, including ATM cards, mobile phones, laptops and bank security tokens.
One of the syndicate's modus operandi was to deliver threatening debtors' notes to demand payment from the borrowers.
All eight suspects will be charged in court tomorrow morning for offences under the Moneylending Act.
MORE 938LIVE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
In the aftermath of the Philippines' deadliest storm, an exhausted young woman gave birth to a girl on a filthy floor with little more than ... More In the aftermath of the Philippines' deadliest storm, an exhausted young woman gave birth to a girl on a filthy floor with little more than determination to sustain them. Duration: 02:27
Date 4 hrs ago, Duration 2:26, Views 130