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.
Tok Leong Hai, 34, ran a franchise of an unlicensed moneylending firm led by a man known as "Ah Neng".
Tok, who used to be one of Ah Neng's debtors, had agreed to be part of the business after he was unable to repay his loans totalling S$110,000.
Tok started running the "franchise" sometime between July and August 2008, and he continued with his illegal activities until his arrest on August 4 last year.
By then, he had acquired about 60 active debtors with outstanding loans totalling some S$60,000.
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.
Another runner, 43-year-old Kwek Sir Huat, who was fined S$360,000, was also jailed for two years.
Ah Neng, who was later identified to be 39-year-old Khoo Joo Huat, has already been charged in court and will be dealt with at a later date.
ORIGINAL SOURCE
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