Errant moneylender fined $14,000

Errant moneylender fined $14,000

SINGAPORE - Ms Jennie Anne Opperman, director of moneylending company Money3 Pte Ltd, has been fined $14,000 by the State Courts, said the Ministry of Law in a statement on Monday.

Money3 Pte Ltd was issued a moneylending licence on Feb 2, 2010 but failed to renew the licence after it expired on Feb 1 this year.

The 43-year-old pleaded guilty in the State Courts and was convicted for three charges. She was charged for recklessly furnishing false information to the Registrar, for failing to supply a statement of accounts to a borrower and for employing a staff without the Registrar's prior approval.

If breaches of moneylending laws are found, the Registry of Moneylenders may suspend or revoke licences, forfeit security deposits, warn and prosecute the offenders.

Those convicted of violating the Moneylenders Act and Rules face a fine of up to $40,000 and/or an imprisonment term of up to two years on each charge.

More about

Purchase this article for republication.



Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.