The Police have arrested two men, aged 23 and 24, for their suspected involvement in a series of loansharking activities.
On 21 October 2018 at about 9.50am, the Police received a report informing that a residential unit located at Blk 935 Tampines St 91 was splashed with paint and loanshark-related graffiti were also scribbled on the walls. Through investigations, officers from Bedok Police Division established the identities of the two suspects and arrested them on 22 October 2018. Preliminary investigations revealed that they were believed to be involved in other cases of loanshark harassment in Punggol, Sengkang, Hougang, Circuit Road and Bedok South housing estates.
Both men will be charged in court on 24 October 2018 under the Moneylenders Act 2010 (Revised Edition). 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 5 years, and mandatory caning of up to 6 strokes.
Source: Singapore Police Force