Undergraduate fined, jailed 2 months for assisting loanshark
Published on Aug 14, 2012
Fan Wei Kang, an undergraduate at the Singapore Institute of Management was fined $60,000 and jailed two months. He had agreed to work for a loan shark in order to earn $1,000 a month to cover his tuition fees. -- PHOTO: SINGAPORE POLICE FORCE
By Khushwant Singh
An undergraduate at the Singapore Institute of Management agreed to work for a loan shark in order to earn $1,000 a month to cover his tuition fees.
It lasted less than three months and on Tuesday, Fan Wei Kang was fined $60,000 and jailed two months.
The 24-year-old had pleaded guilty on Aug 7 to assisting an unlicensed moneylender by collecting an ATM card from a debtor and performing money transfers on another occasion. Four other money transferring charges were taken into consideration by the district court.
Investigations revealed that in early January this year, Fan had responded to an online advertisement promising “fast cash”.
Read the full story in Tuesday's edition of The Straits Times.
