Two held for suspected loan-sharking activities
Both men will be charged in court today. -myp
POLICE have arrested two men for suspected involvement in loan-sharking activities.
On Tuesday, at about 7pm, officers spotted a man behaving suspiciously while they were patrolling an Yishun housing estate.
They checked him and found in his possession loanshark- related paraphernalia, including several debtors' notes, bank transaction slips and a mobile phone believed to contain debtors' records.
Preliminary investigations showed that he is a debtorturned- runner, who helped loan sharks by tracing and contacting debtors.
Separately, at about 10.30am yesterday, officers raided Tagore Industrial Estate and arrested a 34-year-old man, who is also believed to be a debtor-turned-runner.
He had allegedly helped a loan shark by collecting repayments and carrying out bank transfers. Two mobile phones believed to contain debtors' addresses were also seized.
Both men will be charged in court today.
First-time offenders may be fined up to $200,000 and/or jailed up to two years.
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