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Eight arrested on suspicion of loansharking activities in island-wide blitz

Police arrested eight people in an island-wide operation against a loansharking syndicate on Tuesday. Those arrested include seven men and a woman, aged between 30 and 52.

SINGAPORE: Police arrested eight people in an island-wide operation against a loansharking syndicate on Tuesday.

Those arrested include seven men and a woman, aged between 30 and 52.

In a statement, police said it had followed up on months of intensive investigations with raids at various locations including Orchard Road, Hougang, Choa Chu Kang, Circuit Road and Marina Way.

Police also seized various loansharking-related items -- including ATM cards, mobile phones, laptops, thumb-drives, SIM cards, and over S$5,000 in cash.

Three of the suspects are believed to have assisted the loansharking syndicate by issuing loans, collecting repayments from borrowers, and sourcing for potential borrowers from their operating centres based overseas.

Police said all eight suspects will be charged in court on Wednesday.

Individuals found guilty of operating or helping to operate a loansharking business face a fine between S$30,000 and S$300,000, and a mandatory jail term of up to four years, as well as up to six strokes of the cane.

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