P. Devani, 53, allegedly gave a loan of RM4,000 with an interest of RM8,950 without a valid licence to two security guards between July 2022 and March 2023 theSun theSundaily moneylender license mother daughter court law Malaysia
: A woman and her daughter pleaded not guilty in two separate courts here today to charges relating to illegal moneylending activities.
The charge was framed under Section 5 of the Moneylenders Act 1951 which carries a jail term of up to five years and a fine not exceeding RM1 million or both if convicted. Magistrate Nurul Bahiyah Kamaluddin set bail at RM5,000 and prohibited the accused from harassing the victims until the case is completed, while the next case mention was fixed on July 10.
Meanwhile, in the George Town Sessions Court, Penang, Lee Jeng Loon, 38, pleaded not guilty to a charge of operating a money lending business without a valid licence at premises in Lebuh Nordin George Town in May 2021, under Section 5 of the same act.
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