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Source:
www.spf.gov.sg |
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34 To Be Charged In Court For
Assisting Loansharks |
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A total of 34 persons comprising 29 men and
5 women aged between 19 and 65 years old, will be facing charges under
the Moneylenders Act, for handing over their bank accounts to unlicensed
moneylending syndicates to facilitate the syndicates¡¯ activities. They
will be produced in Court 26 tomorrow morning ( 27 Oct 2006 at 9 am ). |
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The 34 persons were implicated in the course
of the investigations into reports of unlicensed moneylending. |
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Majority of them were either debtors who had
taken loans from unlicensed moneylending syndicates or had acted as
guarantors for debtors. |
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When they were unable to service their
repayments, the unlicensed moneylending syndicates would ask them to
open bank accounts and thereafter hand over their ATM cards and the
accompanying Personal Identification Number (PIN) to the syndicates to
be used to carry out their illegal operations. |
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As part of the ongoing Police efforts to
curb illegal moneylending activities in Singapore , errant debtors who
facilitate unlicensed moneylending syndicates to evade Police detection
would also be dealt with accordingly under the law. |
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DSP Yokeswaren Muniswaran, Head of the AUML
Task Force says, ¡°We will continue to take harsh action against illegal
moneylenders, and we will also take action against anyone assisting
them. Abetting unlicensed moneylending is a serious crime.¡± |
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Since the amendment bill of the
Moneylender¡¯s Act came into effect on 1 Jan 06, the fines and
imprisonment terms for offenders have been enhanced. |
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First-time offenders found guilty of
operating a business as an unlicensed moneylender may be fined between
$20,000/- and $200,000/-, jailed a maximum of 2 years, or both. Repeat
offenders may face a fine of between $20,000/- and $200,000/-, and a
maximum jail term of 5 years. |
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Persons found guilty of harassing or
intimidating any persons in connection with loans by an unlicensed
moneylender may be fined between $4,000/- and $40,000/-, jailed a
maximum of 3 years, or both. |
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In the case of a second or subsequent
offence, offenders face a fine of between $4,000/- and $40,000/-,
and a maximum jail term of 6 years. In addition, offenders are
also liable to be caned if they had caused damage to any property
during the commission of the harassment acts. |
PUBLIC AFFAIRS DEPARTMENT
SINGAPORE POLICE FORCE
26 October 2006 @ 9.30pm |
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Source:
www.spf.gov.sg Media Release
26 Oct 2006 |
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FrontPage Edition: Sat 28 October 2006
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