Updated: 11/04/2013 17:46 | By Channel NewsAsia
Man fined for giving false info to Registry of Moneylenders
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SINGAPORE: A man who borrowed from a licensed moneylender has become the first to be convicted and fined for knowingly giving false information to the Registry of Moneylenders.
In March last year, Mohamed A'mirah Abdul Wahab, 60, approached the Registry of Moneylenders for a loan he had taken from licensed moneylender, Credit 88.
The registry reviewed his loan documents, which included his payslips.
During this review, Mohamed A'mirah accused Credit 88 of falsifying his payslips.
Investigations showed that his accusation was false.
He admitted that he had lied to the registry and that the payslips were produced and submitted by him to Credit 88.
He made up the claim that Credit 88 had falsified his payslips in order to cover up for his under-declaration of annual income to the Inland Revenue Authority of Singapore (IRAS).
In August this year, he pleaded guilty and was convicted of one charge of a breach under the Moneylenders Act for knowingly giving false information to the Registrar of Moneylenders.
He was fined S$6,000.
In a statement, the Registry of Moneylenders said it takes an equally tough stance against errant licensed moneylenders and borrowers who knowingly or recklessly furnish false or misleading information to the Registrar or an authorised officer.
Any person who does so faces a fine of up to S$30,000 and/or an imprisonment term of up to 12 months upon conviction. - CNA/nd
