Police arrested a 37-year-old man yesterday evening for suspected involvement in loansharking activities.

On 6 Mar 2010 at about 6.15 pm, while on patrol, officers from Clementi Police Division spotted a man loitering suspiciously at an ATM at Clementi Avenue 3 housing estate. Upon conducting a check, the officers found cash of about $2,000/-, several ATM cards and bank transaction receipts in his possession. The suspect was placed under arrest for suspected involvement in loansharking activities.

Preliminary investigations indicated that the said suspect is believed to have assisted loansharks by collecting debt repayments and is also believed to have borrowed money from the loansharks himself. Investigations are ongoing.

First-time offenders found guilty of assisting in carrying on an unlicensed moneylending business may be fined not less than $30,000 and up to $300,000/- with mandatory imprisonment of up to 4 years and mandatory caning of up to 6 strokes.

Commander of Clementi Police Division, Deputy Assistant Commissioner (DAC) of Police Ng Yeow Boon commended his officers for their vigilance which resulted in the successful arrest of the suspect.