Home Opinion Zoom LensCrime WatchSportsLifestyleArchives Contact Us Feedback
         
     

 

 

 

 

 

'5-6' loan sharks to be caught?

January 14 - 20, 2017

CAMP ALFREDO BANTUG - The days of the 5”-6” lending scheme seems to be numbered as local and national law enforcement agencies are setting their sights on the reported illegal lending practice.

In relation to the mandate of the present administration, authorities are planning to prohibit and catch those engaged in the extensive informal money lending, commonly known as “5-6”, which interest rates the department of justice and affected borrowers claim are usurious.

Provincial Police Director Senior Superintendent Warren De Leon disclosed to SLT that the local police will do its best to clamp down and take the necessary legal actions as soon as they receive complaints from affected business borrowers.

“We are still focusing on illegal drugs and other crimes. But if we receive complaints about this notorious 5-6 case, we will provide prompt action,”

De Leon said. In addition, the provincial police chief said that they can legally apprehend without a warrant the persons engaged in these activities when the act is done in “ flagrante delicto” or in the presence of a police officer. For a 5-6 lender to be arrested without a warrant, it must be sufficiently proven by an arresting officer that at the time of arrest, the lender was actually conducting lending activities without the necessary permit.

In a recent interview, President Rodrigo Duterte has ordered the arrest of any local or foreign national involved in the 5-6 money lending scheme, in his administration’s efforts to help small time entrepreneurs that often fall victim to the usurious lending scheme.(By MARK L. RIMAS)








 

 

 

   

OTHER NEWS

HNHS students hold big protest rally

ASAP’s G-Force to hold dance training

Provincial Library to get “facelift”

Federalism and Con-Ass consultations start

Fire month with new fire chief

Maasin coastal road starts 2017

Duterte orders 1st Mass holiday

Dr. Uytico lauds So. Leyte Division banner project

Three Centenarians to receive P100K each

“Earthquake fish” found in Libagon

Still no sign of missing diver

Ombudsman confirms decision against former town mayor

Maasin grabs 4th place in EVRAA 2017

Youth leaders hold leadership forum

Visayas media hold environmental forum

Carpenter returns money

Bayanihan saves blazing house

American diver still missing at Napantao

Tycoons to solve So. Leyte’s poverty

PNP on high NPA alert

Duterte's Php30 million for Limasawa port

SLSU goes for ISO certification

Guinsaugon tragedy 11 years later

Ombudsman to probe Php33 million in Pag-Ibig loans

Arcayan not Mercado’s bodyguard

NFA administrator visits hometown

Dropwire causes house fire

SSS to condone loan penalties

Sakay-Sakay Festival to set sail

Firecracker injuries drop in New Year's tally

Goodbye Chikungunya?

EDITORIAL

Death Penalty

Preventing a flood

Anatomy of Change

ZOOM LENS

Overpriced basketball goals?

Jackstones/tetrapods or wavebreakers

Hot number 8888

POLICE REPORT

Phone shop’s suspected robber apprehended

Pintuyan’s “Most Wanted” caught

Store merchandiser found dead in rented house

LIFESTYLE

A Big Voice with a Big Heart

Tatay Mian celebrates 62nd birthday

There is forever for Estrella & Antonio

FEEDBACK

Abuse of priviledge

Online comments from netizens

Delayed salary of Bantay Dagat

|Home| |Opinion| |Zoom Lens|Business|Crime Watch| |Sports|Lifestyle |Archives| |Contact Us| |Feedback|

Copyright 1999-2017 SOUTHERNLEYTE TIMES.com, A SOUTHERN LEYTE TIMES Company