BEAUFORT: A man was charged in the Kota Kinabalu Sessions Court with carrying on an unlicensed moneylending business in connection with a case involving the transfer of land ownership without the owner’s knowledge.
The charge followed an investigation by the Beaufort District Commercial Crime Investigation Division into a report lodged in 2021.
Beaufort Police Chief Supt Champin Piuh said investigations found that the accused had allegedly provided a personal loan to the victim without a valid moneylending licence.
He said the loan was allegedly granted on the condition that the victim’s land title be used as collateral before the ownership of the land was transferred without the victim’s knowledge.
The case involved an estimated loss of RM60,000 relating to a parcel of agricultural land in here.
The accused pleaded not guilty to a charge under Section 5(2) of the Moneylenders Act 1951.
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The court allowed bail of RM5,000 with RM3,000 to be deposited and two sureties.
The case was fixed for further mention on Aug 24. Champin said police would continue to investigate and enforce the law professionally and transparently in accordance with existing legal provisions.
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