Debtor ran China operation for loan shark
Unable to pay his own debts, he took up offer to set up shop there
Published on Apr 10, 2015 7:31 AM
By Elena Chong Court Correspondent
[video=youtube;FCi1rom2pBg]http://www.youtube.com/watch?v=FCi1rom2pBg[/video]
A DEBTOR who owed a loan shark around $20,000 ended up working for him as a runner and even set up an illegal moneylending business for him in China, a court heard yesterday.
Ken Lee Jung Huat, 39, flew to Hong Kong to meet "Ah Heng" and, over three weeks, he was taught how to operate such a business before setting up his own operation in 2011.
Lee would call debtors to remind them when repayment was due, offer loans to potential customers, update a customer database and direct runners to collect repayment of loans and deposit money.
Yesterday, he pleaded guilty to 20 of 60 charges under the Moneylenders Act. His lawyer will submit a plea in mitigation on April 17.
