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.