Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
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Sunday, 5 July 2015

Property agent charged with unlicensed moneylending

Property agent charged with unlicensed moneylending

Property agent charged with unlicensed moneylending

Property agent Kenny Tay Ann Siang, 40, has been charged with three counts of unlicensed moneylending. -- ST PHOTO: WONG KWAI CHOW 

SINGAPORE - A property agent was charged in court with three counts of unlicensed moneylending on Thursday.
Kenny Tay Ann Siang, 40, stood accused of giving loans of $30,000 to three people in 2011 and 2012, charging them interest in excess of 230 per cent.
On one occasion in June 2011, Tay allegedly gave the loan to a 55-year-old, passing him the cash at the Jurong Point shopping mall.
Tay is said to have charged him interest of 236 per cent on the principle sum - demanding $101,000.
His other alleged victims were a 35-year-old woman, to an elderly lady of 71.
The court charged him under the Moneylenders' Act.
Tay posted bail of $30,000 and will re-appear in Court later this month.
If convicted, he will be fined between $30,000 to $300,000, jailed up to four years and receive up to six strokes of the cane.
The Straits Times/ S'pore                                     Published on Thursday, 2 April 2015                   By Danny Cheong                            Property agent charged with unlicensed moneylending