Licensed moneylender jailed for helping loanshark
A licensed moneylender ended up 15 months behind bars and was fined $210,000 on Thursday for helping a loanshark run his business.
Go Tian Siong, 38, had pleaded guilty to seven charges of assisting Tan Ah Lye in carrying on his loansharking business between 2010 and April this year.
Seventeen other charges were considered during his sentencing today.
A district court heard that in 2008 Tan, 38, who is wanted by the police, contacted Go, proprietor and manager of Advance Credit, and asked whether he was interested in operating his unlicensed moneylending stall named "Ah Di''. Go agreed and was promised 20 per cent of the profits.