16 Mar '11, 8am

Man caned for running loansharking business

SINGAPORE: A man who ran an illegal moneylending business was sentenced on Wednesday to four years and four months' jail, fined S$151,000 and ordered to receive 21 strokes of the cane. Police have also seized his ill-gotten gains worth more than S$107,000 in all, and this will be forfeited to the state. They include cash, a motorcycle and a car. Thirty-four-year-old Tok Leong Hai had pleaded guilty to 21 of the 82 charges against him. The remaining 61 charges were taken into consideration during sentencing. Tok had given out loans totalling S$35,500 between 2008 and last year, charging his debtors interest rates of up to 20 per cent. On his behalf, two of his runners had also harassed debtors who could not repay their loans. For his role in the crime, 26-year-old runner Ho Yew Fei had earlier been sentenced to two years' jail and ordered to receive 12 strokes of the cane. ...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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