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| Police seized 242 passports in the raid on the couple's home in March 2017 |
A Chinese couple and three Filipina domestic workers who allegedly served as their runners in a $10 million illegal lending ring appeared at the District Court again on Tuesday, six years after they allegedly committed the offence.
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| PINDUTIN PARA SA DETALYE! |
Tai Ming-fung, 56 and Cheng Wai-king, 55, are
charged along with Lorna M. Pingol, 48 and Alma M. Cuntapay, 57, are all
charged with conspiring with each other and the couple’s Filipina helper named “Jessie”
who has apparently fled Hong Kong, to lend money at an interest in excess of the
legal rate of 60% per annum.
The alleged offence happened between May 1, 2016 and
March 12, 2017.
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The fifth accused, Milagros Anna Laderas, 46, faces
a separate charge of conspiring with Jessie and other persons unknown of
lending money at usurious rates at unspecified dates between July and September
2016.
The alleged offence is punishable under sec. 24 (4)
of the Money Lenders Ordinance and sec 159C of the Crimes Ordinance.
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| BOOK YOUR FLIGHTS NOW! PRESS FOR DETAILS |
The case was again adjourned to August 1 for further
legal advice, and bail was extended anew for all defendants. Tai’s cash bail is
set at $80,000; Cheng at $20,000 and all three Filipina helpers at $2,000 each.
The case garnered wide interest after the police
announced in April 2017 that they had arrested the couple and Jessie, their
domestic helper, of lending money to some 1,000 Filipino migrant workers at an
interest rate of 10% per month, or double the legal rate.
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| BASAHIN DITO |
A total of 242 Philippine passports were recovered
at the time, and a large number of bank records, debt notes, and employment
contracts were also seized.
The passport holders, all domestic helpers, had used
them as collaterals for loans of $4,000 to $15,000 that carried a 10% monthly
interest rate.
The passports of the borrowers, said to have been
held by the accused as collateral for the loans, were seized by the police as
evidence in the case.
Subsequently, seven more Filipina workers were arrested
in connection with the illegal lending ring. But only three were eventually
charged along with the couple.
According to the police, the group made as much as
$12 million from the illegal dealings.
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| PADALA NA! |
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