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| The case is being heard at District Court |
The District Court trial of three Filipinas accused of being runners for a Chinese couple has been set for Aug. 8, after the second pre-trial review for a case of conspiracy to lend money at interest rates higher than the yearly limit of 48 per cent set by law.
Lorna Pingol and Alma Cuntapay were named co-accused in one
charge of conspiracy with the two Chinese, Tai Ming Fung and Cheng Wai-king, while Milagros
Anna Laderas was alone in the second charge when they appeared together on Thursday (Aug. 2) at
District Court.
The Filipinas allegedly conspired with Tai and Cheng in lending a total of $10 million to about 1,000 Filipina domestic workers at usurious rates, in a case that happened more than eight years ago.
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| PINDUTIN DITO |
Pingol and Cuntapay were charged with the couple of conspiring with “a person named Jessie and other persons unknown” to lend money at an effective interest rate of more than 60 per cent between May 1, 2016 and March 12, 2017, according to information filed by the Department of Justice.
Laderas, on the other hand, was accused of conspiring with “Jessie” -, said to be the couple's former domestic helper -and others of lending money at such rates between July and September in 2016.
Earlier reports from the police said the group made as much as $12 million from the illegal transactions. The borrowers were allegedly charged an interest of 10% per month, or 120% per year, double the legal rate.
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| Pindutin para sa detalye |
They were all charged with lending at excessive interest
rates, violating section 24(1) of the Money Lenders Ordinance which sets the
limit for interest rates at 48 per cent per year, and section 159A(1) of the Crimes Ordinance
which defines conspiracy.
The offense is punishable under the section 24(4) of the Money Lenders Ordinance, which sets the punishment for lending at excessive rates at a maximum of P5 million fine and 10 years’ imprisonment, and section 159C of the Crimes Ordinance which enhances these penalties.
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| Basahin ang detalye! |
All three Filipinas were freed on bail of $2,000 each, while
Tai’s bail was set at $80,000 and Cheng’s was $20,000.
Except for Pingol, the accused were told by Judge Timothy Harry Casewell to return on Aug. 8 for the start of trial, having pleaded not guilty in earlier hearings at the Tsuen Wan Law Courts.
The same date was also set for Pingol to declare herself guilty or not.
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