SINGAPORE – The Police have arrested a 19-year-old man for his suspected involvement in loan sharking activities.
On March 26, the police received a report that a unit at Blk 655, Yishun Avenue 4, was splashed with green paint. Loan shark related graffiti was found scribbled on the wall. Officers arrested the suspect in the vicinity of Yishun Ring Road on March 30.
The suspect is believed to have committed similar loan shark harassment at Yishun and Sembawang housing estates.
Under the Moneylenders Act, first time offenders found guilty of loan shark harassment shall be fined not less than $5,000 and not more than $50,000 with imprisonment of up to five years and will face up to six strokes of the cane. Readmore