Moneylender convicted on two charges
The manager of an errant licensed moneylending company was fined $15,000 on Monday.
Lee Zhe Kai faced six charges in the Subordinate Courts, including recklessly furnishing false information to the Registry of Moneylenders and granting an unsecured loan to a Singaporean borrower that exceeded the prescribed limits.
He pleaded guilty to two charges and the other four were taken into consideration.
The 34-year-old, formerly known as Kee Yong Hwa, is the manager of Clementi-based 77 Moneylender Pte Ltd, which has held a moneylending licence since Feb 2, 2011.