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A 41-year-old man was arrested at Woodlands Checkpoint on July 27 for his suspected involvement in loansharking activities.
In a news release, the police said they had received a report of loanshark harassment on July 23, whereby a residential unit in Woodlands was being chained and locked up.
A loanshark-related note was also found affixed on the unit’s main door.
Through extensive probes and enquiries, officers from Jurong Police Division established the identity of the suspect and arrested him at Woodlands Checkpoint four days later.
Following the arrest, items including cash amounting to S$14,000, four Automated Teller Machine (ATM) cards and a mobile phone were seized as case exhibits.
Preliminary investigations revealed that the suspect had planned to courier the monies from loansharking activities to Johor Bahru, Malaysia.
The suspect will be charged in Court on 29 Jul 2017 for the offence of Assisting the Business of Unlicensed Moneylending under Section 14(1)(b)(i) of the Moneylenders’ Act (Revised Edition 2010), Chapter 118.
If found guilty, he is liable to a fine of not less than $30,000 and not more than $300,000, and with a jail term not exceeding four years.