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Dec 24, 2009
Falsifying documents: 3 charged
<!-- by line --> By Elena Chong
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start --> THREE men were hauled to court on Thursday with falsifying promissory notes of a moneylending business about 2 1/2 years ago. Han Theng Siew, 30, then a financial controller, Lim Wei Teck, 35, a former police officer, and Oon Tik Chuen, 38, then a claims consultant, allegedly conspired to make use of a moneylending business to provide loans at an interest rate of 10 per cent a month instead of the stipulated maximum rate of 18 per cent a year. The business, IMS Credit, was registered under Han's name. To satisfy the requirements of the Registry of Moneylenders and Pawnbrokers, they allegedly agreed to falsely state the loan amount and interest on the promissory notes of seven individuals. Their cases have been scheduled for a pre-trial conference on Jan 28. If convicted, they face a jail term of up to seven years and/or a fine on each charge.
Home > Breaking News > Singapore > Story
Dec 24, 2009
Falsifying documents: 3 charged
<!-- by line --> By Elena Chong
<!-- end by line -->
<!-- end left side bar --> <!-- story content : start --> THREE men were hauled to court on Thursday with falsifying promissory notes of a moneylending business about 2 1/2 years ago. Han Theng Siew, 30, then a financial controller, Lim Wei Teck, 35, a former police officer, and Oon Tik Chuen, 38, then a claims consultant, allegedly conspired to make use of a moneylending business to provide loans at an interest rate of 10 per cent a month instead of the stipulated maximum rate of 18 per cent a year. The business, IMS Credit, was registered under Han's name. To satisfy the requirements of the Registry of Moneylenders and Pawnbrokers, they allegedly agreed to falsely state the loan amount and interest on the promissory notes of seven individuals. Their cases have been scheduled for a pre-trial conference on Jan 28. If convicted, they face a jail term of up to seven years and/or a fine on each charge.
