Upon a check, he was found in possession of handphones, several ATM cards and bank transaction receipts. Preliminary investigations indicated that the suspect is believed to have assisted loansharks in their business by conducting bank transfers.
The suspect was subsequently placed under arrest and the items seized as case exhibits. Investigations are on-going.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined not less than $30,000/- and not more than $300,000/-, be imprisoned for a term not exceeding 4 years and shall also be liable to be punished with caning with not more than 6 strokes.
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