2 youths arrested for suspected involvement in loansharking activities at Jurong East

Two men, aged 20 and 17, were arrested on Apr 24 for their suspected involvement in loansharking activities along Jurong East Street 24.

On Apr 23 at about 10.30pm, the police were alerted to a residential unit at Jalan Damai that had its front gate locked with a bicycle lock, along with a debtor note that was pasted on the gate.

The suspects were identified and arrested by Bedok Police Division, through follow up investigations.

The 20-year-old suspect will be charged in court today (Apr 26) under the Moneylenders Act 2010 (Revised Edition). 

Investigations against the other suspect are ongoing.

Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of loanshark harassment shall be fined at least $5,000 and not exceeding $50,000, with a jail term of up to five years, and up six strokes of the cane.