Singapore — A 40-year-old man has been arrested by police for suspected involvement in a series of loanshark harassment cases in Singapore, which include setting homes on fire, say reports.
A loanshark harassment occurred on Saturday afternoon which involved fire in the vicinity of Serangoon North Avenue 1, and the police were alerted.
The suspect was arrested at about 8 pm Saturday evening at Beo Crescent. He was caught with loanshark-related paraphernalia which included several handphones, paint brushes, and a lighter.
Police believe the suspect is responsible for more than 10 cases of loanshark harassment, including two involving fire at Serangoon and Bedok Reservoir.
Aileen Yap, head of Unlicensed Moneylending Strikeforce from the Criminal Investigation Department Superintendent of Police said: “Police have zero tolerance against loanshark harassment. Upon conviction, these perpetrators can expect to be caned and jailed for damaging property and causing alarm to the general community,” reported The Straits Times.
Less than two weeks ago, on November 26-27, police launched a 12-hour crackdown on loansharking activities in Singapore, arresting 16 people believed to have been a part of an illegal moneylending syndicate that is responsible for more than 340 loanshark harassment cases throughout the city-state.
Under Singapore law, a person found guilty of operating or assisting in the operating of a loansharking business can be fined S$30,000 to $300,000, with a mandatory jail term of up to four years, and up to six strokes of the cane.
The public is advised to stay away from loansharks and not to work with or assist in loansharking activities in any way, say police.