6 charged over alleged links to unlicensed moneylending syndicate

Six men have been charged in Singapore for their alleged involvement in an unlicensed moneylending syndicate that reportedly caused thousands of complaints from victims. The charges stem from an extensive police operation conducted on August 12, 2026, which led to the arrest of 11 individuals, including three women. The syndicate is believed to have triggered at least 25,500 reports through ScamShield, a national scam reporting platform, and over 1,509 police reports, many of which relate directly to unlicensed lending practices. The six men, Felix Chan Zhi Hao, 27; Chew Zong Sheng, 27; Sim Guo Liang, 29; Toh Jia Meng, 31; Kenny Ng Hock Heng, 37; and Tan Kian Hock, 39, were charged with offenses connected to unlicensed moneylending activities. Each faces individual charges tied to specific actions within the syndicate’s operations. According to court documents, Tan Kian Hock is accused of helping an unlicensed lender known as “Bro” in 2024 to increase the value of multiple SIM cards. Chew Zong Sheng allegedly used nine bank cards to transfer and withdraw funds between mid-2024 and February 2026. Toh Jia Meng is said to have sent loan advertisements via SMS to numerous Singapore-registered mobile numbers between early 2025 and August 2026. Chan Zhi Hao is reported to have used a bank card to make cash withdrawals and deposits in 2026. Meanwhile, Ng Hock Heng and Sim Guo Liang are accused of aiding an unlicensed moneylender called “Elon” in conducting illegal lending operations in August 2026. The arrests followed a coordinated raid involving more than 100 officers from the Criminal Investigation Department, Police Intelligence Department, and Special Operations Command. During the operation, law enforcement officials confiscated over $410,000 in cash, two laptops, 22 mobile phones, 14 SIM cards, and 24 bank cards. Authorities also seized cryptocurrencies worth more than $25,000 and froze 29 bank accounts linked to the syndicate, which held a combined balance exceeding $106,000. The syndicate's activities extended beyond financial crimes. One of the arrested men was found in possession of more than 300 vaporizers and related components, many suspected to contain etomidate, a controlled substance. These items were forwarded for analysis, and the individual is cooperating with the Health Sciences Authority under the Tobacco and Vaporisers Control Act 1993. Investigations into the remaining five suspects are still underway, particularly regarding their potential roles in the fraudulent registration of SIM cards used by the syndicate to promote its services. The operation also targeted mobile phone retailers suspected of participating in the illegal registration of postpaid SIM cards, which were later utilized by the syndicate for mass SMS campaigns. This aspect of the investigation highlights the broader network supporting the illicit lending operations. The legal consequences for those found guilty could be severe. Under the Moneylenders Act 2008, first-time offenders assisting in unlicensed moneylending may face imprisonment for up to four years, fines ranging from $30,000 to $300,000, and caning up to six strokes. Those involved in the fraudulent registration of SIM cards could be fined up to $10,000, jailed for up to three years, or both, with possible caning of up to 12 strokes. Additionally, the possession or distribution of vaporizers containing prohibited substances like etomidate carries penalties including prison terms and caning. The cases against the six men have been postponed until August 20 for further proceedings. As the investigation continues, authorities are examining the full scope of the syndicate’s activities and the extent of its impact on the public.