Selangor man fined RM5,000 in Sibu for illegal moneylending

SIBU: A man from Selangor has been fined RM5,000 in default three months' jail by the Magistrate's Court here for illegal moneylending activity.

Chia Kai Lun, 36, pleaded guilty under Section 29AA(1) of the Moneylenders Act 1951 before Magistrate Jessica Lee Suk Kiun on Friday (May 19).

The section provides for a fine not exceeding RM20,000 or imprisonment of up to two years upon conviction.

Chia, a divorcee with a six-year-old son, was charged with assisting a moneylender nicknamed "Ah Keong", who is still at large, in carrying out a moneylending business without a licence.

The offence was said to have been committed between Feb 10 and 18 at a house in Jalan Tun Ahmad Zaidi Adruce.

According to the facts of the case, a complainant received a call from the accused sometime in February offering a personal loan.

He asked for a RM65,000 loan but only received RM39,750 and had to pay RM13,050 for "miscellaneous charges".

He then lodged a police report, which led to Chia's arrest.

In mitigation, counsel Ben Lau pleaded for leniency on his client's behalf, saying Chia was just an employee and was not aware that his boss did not have a moneylending licence.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

AirAsia fully recovers from tech outage, resumes normal operations
Father arrested for rape after disabled 13-year-old gives birth in Dungun
Ex-Grab driver's unfair dismissal challenge rejected by Federal Court
Bomba heli to fly low in Putatan for training exercise
UMS holds workshop on bioterrorism threats
Wan Saiful's wife passes away
Education Ministry updates guidelines for English language teachers from Singapore
Miss World 2023 Krystyna Pyszkov� swaps crown for a cause
RM3.7bil added taxes and penalties imposed for non-compliance in 1H2024, says LHDN chief
Anwar wishes happy Sarawak day to all Sarawakians

Others Also Read