Moneylender stabbed to death

ILOILO City – A 41-year-old Indian national was stabbed to death in Barangay Lupa, Santa Barbara, Iloilo.

Harvender “Sido” Singh, a moneylender, died of multiple stab wounds on his back. He also had a slash wound on the neck.

His body was found at around 9:30 p.m. on Tuesday.

Singh was on his way home when attacked after a day of collecting payments from borrowers, initial police investigation showed.

Policemen recovered only Singh’s mobile phone. The victim’s wallet was gone.

Barangay tanods alerted the police about Singh.

In Barangay Cabugao, Santa Barbara around a kilometer away from where Singh’s body was found, policemen recovered a motorcycle that turned out to be Singh’s.

According to Senior Inspector Rey Pabalan, Santa Barbara police chief, Singh was likely robbed.

The Indian national had been temporarily staying at an apartment in Barangay Lupa since last year.

“The attacker may be familiar to the victim,” said Pabalan.

As of this writing, the Santa Barbara was yet to name a suspect but Pabalan said, “We have persons of interest.” He did not elaborate.

The police received information that the victim’s family sent him P30,000 as additional capital for his moneylending business.

Singh’s was the first case of an Indian moneylender robbed or killed in Iloilo this year but the province and city of Iloilo had similar incidents in the past.

On Jan. 4, 2017 Kasmiri Lal of Molo, Iloilo City told the police two armed men took his P10,000 cash and a cellular phone around 11 a.m. in Barangay Rizal, Oton.

The robbers were using a motorcycle. The back rider threatened to shoot Lal.

The robbers fled after getting the foreigner’s money and phone.

Two weeks after, the Securities and Exchange Commission (SEC) Region 6 warned that engaging in the business of lending money without the required permits from the government was illegal.

Those in this activity could be charged with violating Republic Act 9474 or the Lending Company Regulation Act of 2007.

SEC particularly warned Indian nationals engaged in money lending but not registered with SEC. These were the “Bombay” or “5-6” money lenders that President Rodrigo Duterte ordered arrested for usury. They exact 20-percent interest per month on loans to cash-trapped Filipinos.

Bombay is the old name of the port city of Mumbai, the financial hub of India.

Under the Lending Company Regulation Act of 2007, violators are fined between P10,000 to P50,000 and may also be imprisoned from six months to 10 years./PN

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