Johannesburg - On Monday, two Chinese nationals were sentenced to a R10 000 fine each for operating an unregistered cash loan business.
The Atamelang Magistrates Court in North West convicted and sentenced Nengbiao Xue (41) and Xiamei Chen (47) to R10 000 fines each for operating an unregistered cash loan business.
According to the Hawks, in February 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.
“Two suspects were arrested at their respective business premises for contravening Section 133 of the National Credit Act, 2005 (Act No. 34 of 2005). SASSA cards, bank cards, ID books, and SA Post Office cards were seized at both premises during the operations,” said Lieutenant Colonel Tinyiko Mathebula.
Xue and Chen made their first court appearance on March 10. On Monday, the duo entered into separate plea bargaining with the state, and they were found guilty and sentenced.
The Star