Police arrested a whopping 135 suspects aged between 17 and 75 in an anti-loansharking operation that took place from Nov. 11 — 14. 89 were men and 46 were women.
Officers from the Criminal Investigation Department (CID) and the six Police land divisions had conducted raids simultaneously at multiple locations islandwide, leading to the arrest of:
- Six runners who'd carried out Automated Teller Machine (ATM) transfers or procured ATM cards for loansharks' usage
- 13 harassers suspected of splashing paint and scrawling loanshark related graffiti on walls
- Two suspects who'd provided false contact information when obtaining loans from loansharks - 114 suspects believed to have opened bank accounts and given away the ATM cards and Personal Identification Numbers (PINs) to loansharks to facilitate their activities
Investigations against all the suspects are ongoing.
Under the Moneylenders' Act (Revised Edition 2010, when a bank account or ATM card of any person is used to facilitate activities by an unlicensed moneylender, that person is assumed have assisted in the business.
First-time offenders found guilty of such an act may be fined up to $300,000 and jailed up to four years. They may also face caning.
First-time offenders found guilty of acting on behalf of an unlicensed moneylender in committing or attempting harassment may be jailed up to five years, fined up to $50,000 and face up to six strokes of the cane.
Anyone guilty of providing false contact information to obtain loans from loansharks may be liable if guilty, of imprisonment for a term of up to 12 months.
Photo: Victor via Flickr
Police arrested a whopping 135 suspects aged between 17 and 75 in an anti-loansharking operation that took place from Nov. 11 — 14. 89 were men and 46 were women.
Officers from the Criminal Investigation Department (CID) and the six Police land divisions had conducted raids simultaneously at multiple locations islandwide, leading to the arrest of:
- Six runners who'd carried out Automated Teller Machine (ATM) transfers or procured ATM cards for loansharks' usage
- 13 harassers suspected of splashing paint and scrawling loanshark related graffiti on walls
- Two suspects who'd provided false contact information when obtaining loans from loansharks - 114 suspects believed to have opened bank accounts and given away the ATM cards and Personal Identification Numbers (PINs) to loansharks to facilitate their activities
Investigations against all the suspects are ongoing.
Under the Moneylenders' Act (Revised Edition 2010, when a bank account or ATM card of any person is used to facilitate activities by an unlicensed moneylender, that person is assumed have assisted in the business.
First-time offenders found guilty of such an act may be fined up to $300,000 and jailed up to four years. They may also face caning.
First-time offenders found guilty of acting on behalf of an unlicensed moneylender in committing or attempting harassment may be jailed up to five years, fined up to $50,000 and face up to six strokes of the cane.
Anyone guilty of providing false contact information to obtain loans from loansharks may be liable if guilty, of imprisonment for a term of up to 12 months.
Photo: Victor via Flickr