Man Faces Charges for Unlicensed Moneylending and Money Laundering Operations

A 49-year-old man is set to appear in court on January 22, 2024, facing charges related to unlicensed moneylending and money laundering activities.

The accused, the sole proprietor of "Xpress Leasing," allegedly issued illegal loans under the guise of buying and leasing preowned mobile phones.

Police investigations, triggered by multiple reports, revealed the man's illicit moneylending business conducted without a license between June and October 2020.

The accused, previously convicted for similar offenses, also faces charges under the Corruption, Drug Trafficking and Other Serious Crimes Act. Over $700,000 connected to the illegal activities has been seized during the investigation.

If convicted, the man could face imprisonment, fines, and caning under relevant laws.

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