SINGAPORE: Between March 22 and April 28, creditor papers were posted to a number of government buildings and residential products, resulting in numerous police reports of harassment.
A 45-year-old man will face charges for his alleged involvement in printing and mailing these debtor notes as well as loansharking activities, the police announced in a news release on Thursday( Sep 14 ).
The state houses were not identified by the police.
Pictures and personal knowledge of alleged unregulated moneylending debtors were included in the notes.
Officers from the Criminal Investigation Department and the seven Police Land Divisions determined the man’s individuality through follow-up studies. He was detained by the police on May 5 near Sengkang.
The man allegedly worked for a loanshark to write and email creditor notes to numerous addressees across the island, according to preliminary investigations. According to the police, he had also reportedly helped the loanshark conduct banking transactions at automated teller machines.
On September 15, the man will face charges in court for 22 counts of harassing a creditor on behalf of an unregistered lender and 2 counts for aiding in illegal money lending.
First-time offenders who assist in unlicensed moneylending face sentences of up to four years in prison, fines of between$ 30,000 and$ 3,000, and a maximum sentence of six strokes.
First-time offenders who harass a defendant on behalf of an unregistered creditor risk jail time of up to five years, fines of between 5,000 and 50,000 S, and canes for three to six strokes.
Regardless of their positions, the police will continue to take severe police action against those involved in the unregistered moneylending industry to make sure they receive the full force of the law, according to the statement.
The government is also advised not to work with or help unregulated moneylenders in any way and to avoid them altogether.