Police arrest three loanshark runners

The police have arrested three men aged between 23 and 29 years old for their suspected involvement in unlicensed moneylending activities in two separate cases.
In the first case, at about 240pm on Sep 7, officers spotted two male China Nationals, aged 23 and 26, behaving suspiciously in the vicinity of Serangoon North Ave 1. After they were detained, officers found them to be in possession of a sling bag containing bicycle locks, markers, combustible fuel, handphones and papers containing debtors’ records.
Officers found that the suspects had attempted to harass debtors by scrawling loanshark graffiti on the walls, locking up the debtors’ unit using the bicycle locks and also setting fire at the debtors’ doorstep at Serangoon housing estate. They were immediately arrested.
In a separate case, on the next day at about 545 am, officers spotted the 29-year-old male suspect behaving suspiciously. Checks revealed that he had a handphone containing suspected debtors records, makers and ATM cards. He was later arrested.
Preliminary investigations indicated that the suspect is believed to have committed several cases of loanshark harassment in Hougang, Serangoon and Sengkang housing estates by splashing paint and scrawling loanshark-related graffiti on the walls.
They were charged today for offences under the Moneylenders Act 2010 (Revised Edition).
First-time offenders found guilty of loanshark harassment shall be punished with a fine of not less than $5,000 and not more than $50,000, mandatory imprisonment of up to 5 years and mandatory caning of up to six strokes.