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SINGAPORE: A 38-year-old man will be charged in court Thursday for assisting in the business of an unlicensed moneylender.
He was arrested on Tuesday in an ambush by police officers in the vicinity of Ang Mo Kio Avenue 1.
The suspect was found to be in possession of cash amounting to about S$4100, four ATM cards, three handphones and a stack of bank transfer slips.
Preliminary investigations revealed that he assisted a loanshark in his business by transferring money via ATM.
If found guilty, he faces a maximum sentence of a S$200,000 fine and imprisoned for up to two years.
- CNA/yb
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