It has been reported that Loan shark runner was arrested by the police last month.
Source: SPF
The Police have arrested a 19-year-old man for his suspected involvement in a case of loanshark harassment reported on 29 November 2017.
On 29 November 2017 at about 8.45pm, the Police were alerted to a case of loanshark harassment where the gate of a residential unit in Bedok Reservoir Road was being chained with bicycle lock and debtor’s note was left at the unit.
Through good collaboration and familiarity of the terrain, officers from Bedok Police Division managed to establish the identity of the man and swiftly arrested him along Bedok Reservoir Road on the same day at 10.20pm. One handphone with debtor’s records, blue bicycle lock, black coloured pen and debtor’s note were seized as case exhibits.
The man will be charged in Court on 1 December 2017 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.