Six suspects arrested for loansharking involvement

SINGAPORE: Police have arrested five men and a woman, aged between 24 and 40, on suspicion of involvement in loansharking.

They were arrested separately in Yishun, Sengkang and Ang Mo Kio over the last two days.

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 on Thursday.

The other four are still under investigations.

First—time offenders found guilty of helping in unlicensed moneylending may be jailed up to four years, fined between S$30,000 and S$300,000 and given six strokes of the cane.

First—time offenders found guilty of harassment on behalf of an unlicensed moneylender may be jailed up to five years, and fined between S$5,000 and S$50,000.

They may also be given three to six strokes of the cane.

— CNA/al