Six arrested on suspicion of loansharking involvement
®Copyright MediaCorp
Police have arrested five men and a woman on suspicion of involvement in loansharking.
Aged between 24 and 40, they were arrested in six separate cases over the past two days.
The arrests were made in Yishun, Sengkang and Ang Mo Kio.
Police said the suspects had helped unlicensed moneylenders through various ways.
These included carrying out electronic fund transfers on behalf of the moneylenders, and delivering debtors' notes to borrowers to demand for repayments.
Two of the suspects will be charged in Court tomorrow.
Investigations against the other four are ongoing.
First-time offenders found guilty of helping in unlicensed moneylending may be fined between $30,000 and not $300,000.
They are also liable to be jailed up to four years, and given six strokes of the cane.
First-time offenders found guilty of commiting harassment on behalf of an unlicensed moneylender may be jailed for up to five years, and fined between $5,000 and $50,000.
They are also liable to be given three to six strokes of the cane.
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