60 months' jail for man who helped in loansharking

Jan 25, 2011

60 months' jail for man who helped in loansharking

By Elena Chong

Garreth Ho Yu Sheng, 38, was also fined $480,000 or 24 months' jail and ordered to be given six strokes of the cane. -- ST PHOTO: DESMOND LIM

A MAN who helped two others to operate an illegal moneylending business was packed off to jail for 60 months on Tuesday.

Garreth Ho Sheng Yu, 38, was also fined $480,000 or 24 months' jail and ordered to be given six strokes of the cane by District Judge Sarjit Singh.

He had earlier pleaded guilty to six charges of abetment by conspiring with Ku Teck Eng and Lee Kim Hock to carry on the loansharking business between July and August 2010.

The cases against Ku, 41, then a part-time polytechnic lecturer, and Lim, 51, are pending.

The court heard that Ho helped the duo by issuing loans of $400 to $1,000 to borrowers at an interest rate of 20 per cent, and collecting repayments from debtors.

Thirteen other charges were taken into consideration. Ho, who was arrested in Yishun in September 2010, has a similar previous conviction in 2008.

He could have been fined up to $300,000 and jailed up to seven years plus not more than 12 strokes of the cane on each charge.

Loanshark accomplice sentenced to 5 years jail
By Shaffiq Alkhatib | Posted: 25 January 2011 1625 hrs
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SINGAPORE: A 38-year-old unemployed man, believed to be one of the accomplices of a part-time lecturer accused of loansharking activities, has been sentenced to five years jail.

Garreth Ho Sheng Yu, who was fined S$480,000, will also receive six strokes of the cane.

Ho is an alleged accomplice of 51-year-old Lee Kim Hock, the lecturer who is believed to be the leader of an unlicensed moneylending syndicate.

Ho is the second person to be convicted for his role in the illegal business.

One of his accomplices, 35-year-old Melvin Tan Cheng Huat, who is also unemployed, was sentenced last Friday to six years' jail and fined S$240,000.

Court papers stated that Ho worked with his accomplices in carrying out the loansharking business between August and November last year.

Together, they gave out loans totalling S$5,500 and collected S$2,150 in repayments.

Ho pleaded guilty to six charges while twelve remaining ones were taken into consideration.

The case, involving another alleged accomplice, 41-year-old Ku Teck Eng, will be mentioned on February 9.

Meanwhile, Lee's pre-trial conference will be held on February 25.

-CNA/ac