Two Chinese nationals fined for operating unregistered cash loan business

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Two Chinese nationals have been handed down a R 10 000 fine for contravening section 133 of the National Credit Act, 2005 (Act No. 34 of 2005) by operating unregistered cash loan businesses.

Spokesperson for the police, Lieutenant Colonel Tinyiko Mathebula said that the duo were arrested earlier this year.

“The Hawks’ Serious Commercial Crime Investigation unit in collaboration with the National Credit Regulator: Enforcement Division executed search and seizure warrants at two business premises operating as loan sharks in Setlagole.”

Upon searching the premises, SASSA cards, bank cards, ID books and SA Post Office cards were found and seized at both premises during the operations.

They were given the sentence by Atamelang Magistrates Court.