The Police have arrested a 34-year-old man for his suspected involvement in loansharking activities.
Between 26 to 29 May 2019, the Police received multiple reports of loanshark harassment island-wide where the gates of residential units were chained with bicycle locks. In other cases, the ignition switches of motorcycles belonging to innocent victims were tampered with superglue. Loanshark-related notes were also found affixed on the said units and motorcycles.
Following the reports, officers from various Police Land Divisions mounted a joint operation and arrested the suspect in the vicinity of Bedok North. Preliminary investigations revealed that the suspect is believed to be involved in at least eleven cases of loanshark harassment.
The suspect will be charged in court on 1 June 2019 for offences under the Moneylenders Act (Revised Edition 2010). 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 five years, and mandatory caning of up to six strokes.
The Police have zero tolerance against loanshark harassment. Those who deliberately vandalise properties or cause annoyance and disruption to public safety, peace and security will be arrested and dealt with severely in accordance with the law.
Members of the public are advised to stay away from loansharks and not to work with or assist them in any way. The public can call the Police at ‘999’ or the X-Ah Long hotline at 1800-924-5664 if they suspect or know of anyone who could be involved in loansharking activities.
Source: Singapore Police Force