Man jailed 2 years, fined for involving students in moneylending activities
By Alvina Soh | Posted: 26 July 2012 1748 hrs
SINGAPORE: A former salesman who roped in students to assist him in illegal moneylending activities by distributing pamphlets was jailed for two years and fined S$480,000 on Thursday.
40-year-old Roland Phang Keng Ming had employed 144 people, 100 of whom were youths under the age of 16 years.
For that, Phang faced 144 charges under the Moneylender's Act. He pleaded guilty to 48 of them.
In addition, he faced two charges of criminal breach of trust and he was found guilty of one.
From May to July 2011, Phang employed students and foreigners to help him distribute name cards and pamphlets which promoted the illegal moneylending business.
At the time of the offences, Phang was saddled in debt and was working as a runner for several unlicensed moneylenders in exchange for offsetting his loans.
Phang, along with his co-accused, 29-year-old Priscilla Zhuang Jing Wei, posted online advertisements for pamphlet distributors.
Phang and Zhuang, who has yet to be dealt with, were arrested in July last year at Yew Tee MRT station.
100,000 name cards and pamphlets were later seized.
The Deputy Public Prosecutor noted that Phang's plan was "implemented in the most timely fashion during the June holidays when students would be looking for a part time job or a means to ease their boredom".
For the charge of criminal breach of trust, Phang had in 2007 misappropriated S$4,103 from his former company, where he was working as a sales executive.
He pocketed payments from customers who had placed orders with his company for the sale of furniture.
The court also heard that Phang had a string of previous offences, including cheating, theft and drug offences.
- CNA/wm
