Ex-property agent charged in court for moneylending-related offences
A former property agent was charged in court on Friday after he allegedly referred some of his clients to a licensed moneylender in exchange receiving kickbacks.
Ghazali Bin Mohamed Rasul, who used to be attached to Propnex Realty, faces six charges under the Estate Agents Act - four counts of introducing a client to a moneylender, and two charges for receiving payments from a moneylender in connection to the referrals.
The Council for Estate Agencies (CEA) said in a statement on Friday that Ghazali is the first registered agent to be prosecuted for moneylending-related offences.
The court heard that between November 2010 and November last year, Ghazali allegedly introduced four clients to AM Credit, a licenced moneylender.