Man, 60, fined for giving false information to Registry of Moneylenders

Man, 60, fined for giving false information to Registry of Moneylenders

SINGAPORE - A man who borrowed from a licensed moneylender gave false information to the Registry of Moneylenders in his accusation that the moneylender falsified his payslips. He was sentenced to a fine of $6,000 (in default 20 days' imprisonment), said a spokesman from the Ministry of Law.

In March 2012, borrower Mohamed A'mirah Abdul Wahab ("Mohamed"), aged 60 years old, approached the Registry in respect of a loan he had taken from licensed moneylender, Credit 88.

During the Registry's review of the loan documents held by the moneylender, which included the borrower's payslips, Mohamed accused the moneylender of falsifying his payslips.

After further investigation, it was uncovered that his accusation was false. Mohamed admitted he had lied to the Registry, and that the payslip were in fact produced and submitted to the moneylender by none other than Mohamed himself.

He made up the claim that Credit 88 had falsified in order to cover up for his under-declaration of annual income to the Inland Revenue Authority of Singapore.

Mohamed pleaded guilty in the Subordinate Courts and was convicted for one charge in relation to a breach under Section 25(4)(a) of the Moneylenders Act for knowingly giving false information to the Registrar.

Mohamed is the first borrower of a licensed moneylender to be convicted and fined.

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