A man who thought that participating in a supermarket lucky draw could have inadvertently led to his family being harassed by loansharks found out yesterday that one of his own family members had opened several bank accounts and allowed them to be used for unlicensed moneylending activities. (Shin Min article "Man harassed by loansharks after taking part in a supermarket lucky draw" dated 20 Dec 09 refers)

On 30 December 2009 at about 3.00pm, following up on a case of loanshark harassment reported at Ang Mo Kio Avenue 4, officers arrested a 20-year-old man at his residence for suspected involvement in loansharking activities. Preliminary investigations revealed that the suspect had opened several bank accounts to assist an unlicensed moneylending syndicate in its illegal business. Items including bank statements were seized from the suspect. His family members, who were apparently unaware of his activities, had earlier informed the media that they were innocent victims of loanshark harassment and postulated that they could have been targeted because one of them had taken part in a supermarket lucky draw recently where his particulars could have been misused.

Police investigations are ongoing.

First-time offenders found guilty of assisting in the business of an unlicensed moneylender are liable to a fine not less than $20,000 up to a maximum fine of $200,000 or imprisonment for up to two years or both.

Police would also like to advise the public to look out for their family and loved ones, and to advise them against working for loansharking syndicates or taking illegal loans.