In the course of two separate Police investigations into incidents of loanshark harassment reported in June and July 2011 respectively, officers from Clementi Police Division arrested the two suspects for providing false contact information in connection with loans taken from loansharks.
They are believed to be debtors who obtained loans from loansharks by using their previous residential addresses. This resulted in the new residents facing the brunt of the loanshark harassment which were supposedly directed at the suspects.
In addition to offences under the Moneylenders Act, the suspects are also being investigated for failing to report the change in their residential addresses under the National Registration Act.
Those found using their unchanged address to take loans from loansharks resulting in the new owners being subjected to harassment will be prosecuted with the offence of providing false contact information which carries a heavier punishment than the offence of failing to report change of address.
Persons who seek loans from loansharks using their old addresses are liable to be prosecuted for Failing To Report A Change Of Residence under Section 13(1)(b) of the National Registration Act, which carries a fine not exceeding $5000/- or to imprisonment term not exceeding five years or to both.
In addition, they are also liable for the offence of providing false contact information under Section 28(C)(1)(a) of the Moneylenders Act if in connection with a loan, the borrower gives any contact information which he knows or believed to be false to the Unlicensed Moneylender.
Any person who is guilty of this offence shall be liable on conviction to imprisonment for a term not exceeding 12 months. Investigations against the two suspects are still ongoing.
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