The man was arrested in Paya Lebar Road in Singapore on Sunday. Photo: Google Maps

Singapore police have charged a 31-year-old Indian man who allegedly lent money to more than 30 maids and foreign workers – levying interest up to 20% a month – with unlicensed moneylending.

After reports filed by citizens in August, police learned of an Indian suspected of illegal money-lending activities in the Tanjong Katong area, Shin Min Daily News reported.

Police arrested the suspect on September 3 at a shopping center on Paya Lebar Road. Cash totaling S$2,889 (US$2,135), an ATM card, a DBS i-banking token, plus a mobile phone were seized from him.

Preliminary inquiries by police suggest the man had lent a total of S$26,000 to more than 30 maids and foreign workers with a 20% monthly interest, Lianhe Wanbao (Singapore) reported.

Under Singapore laws, people convicted of illegal moneylending face a fine from S$30,000 to S$300,000, up to four years in jail, plus up to six strokes of the cane.

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