3 teens arrested for loanshark harassment

3 teens arrested for loanshark harassment

SINGAPORE: Three teenagers, aged between 15 and 18, have been arrested for their suspected involvement in loanshark harassment activities, police said on Monday (Apr 2). 

In a media release, police said they were alerted on Sunday after a wall along a staircase at Woodlands Drive 62 was found scrawled with loanshark-related graffiti. 

A resident managed to detain a 15-year-old suspect, while police officers arrested the other two suspects who had fled, aged 15 and 18, a short while later. 

Police added that according to investigations, the suspects are also involved in other cases of loanshark harassment islandwide. 

The 18-year-old suspect is also believed to have opened bank accounts and given his ATM cards and PIN numbers to loanshark syndicates for their illegal moneylending businesses.

The three suspects will be charged in court on Tuesday. 

If found guilty of loanshark harassment, first-time offenders can be fined between S$5,000 and S$50,000, with mandatory jail of up to five years as well as mandatory caning of up to six strokes. 

Meanwhile, first-time offenders found guilty of carrying on the business as an unlicensed moneylender or assisting in the business can be fined between S$30,000 and S$300,000, jailed up to four years and caned up to six strokes. 

Source: CNA/ad