Y
Yoshitsune Minamoto
Guest
Jun 15, 2010
Loanshark runner jailed
<!-- by line --> By By Elena Chong, Court Correspondent
A MAN who assisted unlicensed moneylenders in their activities was packed off to prison for 18 months and two weeks and fined $20,000 on Tuesday. Jeremy Ong, 32, unemployed, admitted to 12 counts of being a runner for loansharks, and one charge of abetting a bookmaker to collect soccer bets placed by unknown punters.
A district court heard that his friend, Robin, an unlicensed moneylender, contacted him in late 2008 and asked if he was interested in working for an unlicensed moneylender named Oscar. He agreed. His role was to help Oscar collect repayments from debtors and issue loans to borrowers either by meeting them in person or through fund transfers via banks' automated teller machines.
He was paid $1,800 a month by Oscar. In June last year, the court heard that he also started to work as a runner for another loanshark known as Thomas, who paid him $700 a month. Subsequently, Thomas also asked him to collect money relating to illegal soccer betting from punters.
Ong has convictions for harassment in 2001, and abetting the carrying on of the moneylending business in 2007. Thirteen other charges were taken into consideration. Ong, who was arrested on Jan 12 at a coffeeshop in Geylang, could not pay the $20,000 fine and will serve a default sentence of two months' jail.
