10 people arrested for loansharking activities
By Mustafa Shafawi, 938LIVE | Posted: 20 November 2009 1659 hrs

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SINGAPORE: Police have arrested 10 people, mostly men, for their suspected involvement in loansharking activities.

They were arrested in an island-wide operation, lasting seven hours at various housing estates including Whampoa, Clementi, Jurong and Boon Lay.

ATM cards, bank statements and bank slips were seized.

Initial investigations showed that the suspects are believed to have handed over their bank accounts and ATM cards to unlicensed moneylending syndicates in return for monetary gains.

Four of the suspects are also believed to be debtors-turned-runners.

Investigations are still ongoing. - 938LIVE/vm