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Man gave control of his bank accounts to loan shark to offset loan

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A food delivery rider with a gambling habit who borrowed $3,000 from a loan shark relinquished control of three of his bank accounts to the latter in exchange for a loan offset of $500 per account. Among his offences, Alvin Phua Khian Tat applied for an OCBC bank account,...

Phua, who was offered a reduction of $500 from his outstanding loan for every account he provided to Darren, agreed to the proposal.

DPP Gwee told the court that at the time of the offences, Phua also had an existing account with Standard Chartered Bank.

 

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