CLEMENTI UPDATE
On 15 May 2012,Tue
A 43-year-old man was arrested by the police on Wednesday for
suspected involvement in loansharking activities.
At about 12.30pm on April 25, officers from Clementi Police
Division arrested the suspect in the vicinity of Clementi Avenue
3.
Preliminary investigations revealed that the suspect is a
debtor-turned-runner who assisted the loanshark syndicates by
handing over monies to debtors to facilitate the opening of bank
accounts and procuring Automated Teller Machine (ATM) cards from
debtors.
Cash amounting to $500 and one ATM card were found in his
possession and seized as case exhibits.
Investigations are currently ongoing.
First-time offenders found guilty of assisting in the carrying
on of the business of an unlicensed moneylender, may be fined not
less than $30,000 and not more than $300,000, be imprisoned for a
term not exceeding four years and shall also be liable to be
punished with caning with not more than six strokes.
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