Police have arrested a 25-year-old Taiwanese man earlier this morning for suspected involvement in loansharking activities.

On 22 July 2010 at about 3.30 am, officers from Tanglin Police Division were conducting an ambush in the vicinity of Lorong 1 Toa Payoh when they spotted a man loitering suspiciously in the vicinity. Officers conducted a check on the man and found loanshark-related paraphernalia such as notes with writings which were suspected to be addresses of harassment sites, two markers as well as tube of black paint in his possession. The man was subsequently placed under arrest for suspected involvement in loansharking activities and the items were seized as case exhibits.

The suspect will be charged in Court on 23 July 2010 for offences under the Moneylenders’ Act.

First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term not exceeding five years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to be punished with caning with not more than six strokes.

Commander of Tanglin Police Division, Deputy Assistant Commissioner of Police Koh Yak Leng, commended his officers for their vigilance which resulted in the arrest of the suspect. He also reiterated that Police take a strong stand against unlicensed moneylending activities and will continue to take stern actions against those involved in such illicit activities.