23-year-old arrested in Khatib for loansharking activities

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Police have arrested a 23-year-old man for suspected involvement in loansharking activities.

On Apr 7, 2013 at about 9.57 pm, through follow-up investigation, officers from Ang Mo Kio Police Division arrested the man in the vicinity of Khatib MRT for suspected involvement in loansharking activities.

Preliminary investigations revealed that the man had earlier proceeded to a unit at Blk 618 Yishun Ring Road and assisted the loansharks in their business by looking for a borrower.

Upon his arrest, a mobile phone believed to contain debtors' information was found on him and seized as a case exhibit.

First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning of not more than six strokes.