Police have arrested a 32-year-old man in connection with loansharking activities during a raid at Chai Chee Road earlier this morning.

On 2 February 2010 at about 10.00 am, acting on information received, officers from Ang Mo Kio Police Division conducted a raid at Chai Chee Road and arrested a a male suspect who is believed to be involved in loansharking activities. Several markers, hell-notes, stamps, envelopes and a handphone believed to contain debtors’ records were seized from his possession. Preliminary investigations indicated that the suspect is a debtor-turned-runner and had assisted the loanshark by sending hell-notes to debtors’ residences to harass them and allowing his bank accounts to be used by the loanshark. Investigations are ongoing.

A first-time offender found guilty of assisting an unlicensed moneylender to carry out his business may be fined up to $200,000 or imprisoned for up to 2 years or both. First-time offenders found guilty of loanshark harassment may be fined up to $40,000 or imprisoned for up to 3 years or to both. In addition, canning will be imposed on those who cause damage to property or harm to others while committing these acts of loanshark harassment.