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Errant licensed moneylender fined $10,000

Thread starter Workaholic
Start date Feb 3, 2015

Workaholic

Alfrescian

Loyal

Feb 3, 2015

Errant licensed moneylender fined $10,000

Published on Feb 2, 2015 7:57 PM
By Janice Tai

[video=youtube;ZX1Y7dCwZM0]https://www.youtube.com/watch?v=ZX1Y7dCwZM0[/video]

SINGAPORE - A licensed moneylender has been fined $10,000 for providing false information to the Registry of Moneylenders, a department under the Ministry of Law.

Lion Credit Pte Ltd pleaded guilty to the charge on Monday and was fined $10,000. It will also be required to furnish reasons to the Registrar as to why its licence should not be revoked and its security deposit forfeited.

Two other charges were also taken into consideration by the Court.

Lion Credit has been a licensed moneylender since June 23, 2010.

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