The Police have arrested three men, aged between 21 and 28, for their suspected involvement in loansharking activities.
Between 21 and 22 May 2019, the Police were alerted to two separate cases of loanshark harassment. In the first case that happened along Crescent Road, the main gate of a private residential unit and the vehicle parked within the unit were splashed with red paint. In the second case that happened in Hougang, the door of a residential unit as well as the floor mat placed outside the said unit were burnt.
Through investigations, officers from the Criminal Investigation Department and various Police Land Divisions established the identities of the three men within 24 hours of the police reports and arrested them swiftly.
The three men will be charged in court on 24 May 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. In the case of a second or subsequent conviction, offenders shall be liable to a fine of not less than $6,000 and not more than $60,000 with mandatory imprisonment of between two to nine years, and mandatory caning of up to 12 strokes.
The Police have zero tolerance against loanshark harassment. Those who deliberately vandalise properties, cause annoyance and disruptions to public sense of 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