{"schemaVersion":1,"recordType":"legal-article","id":"law:eri:code:penal:2015:article:366","workId":"law:eri:code:penal:2015","expressionId":"law:eri:code:penal:2015:en","title":"Fraudulent Borrowing and Lending","number":"366","language":"en","canonicalUrl":"https://eriatlas.com/law/penal-code-2015/article/366/","hierarchy":{"part":"PART II — THE SPECIAL PART","book":"BOOK IV — OFFENCES AGAINST PROPERTY","title":null,"chapter":"Chapter 2. — Offences Involving Fraud, Fraudulent Transactions and Blackmail"},"paragraphs":[{"id":"p1","number":"1","text":"A person who borrows money from another without providing a collateral or pledge of sufficient value to cover the loan by promising or undertaking to pay back the loan on the due date together with interest higher than that payable then by financial institutions when that person knows or should have known that it would be impossible to carry on any lawful business that would yield sufficient profit for such payment at such rate,","canonicalUrl":"https://eriatlas.com/law/penal-code-2015/article/366/#p1","sourceTargets":[{"sourceId":"penal-code-2015-en","pdfPage":260,"url":"https://eriatlas.com/sources/penal-code-2015/page/260/?article=366&paragraph=p1#article-366-p1"}]},{"id":"p1-tail","number":"","parentId":"p1","text":"is guilty of fraudulent borrowing, a Class 1 petty offence, punishable with a definite term of imprisonment of not less than 6 months and not more than 12 months, or a fine of 20,001 – 50,000 Nakfas, to be set in intervals of 2,500 Nakfas.","canonicalUrl":"https://eriatlas.com/law/penal-code-2015/article/366/#p1-tail","sourceTargets":[{"sourceId":"penal-code-2015-en","pdfPage":260,"url":"https://eriatlas.com/sources/penal-code-2015/page/260/?article=366&paragraph=p1-tail#article-366-p1-tail"}]},{"id":"p2","number":"2","text":"The lender who is engaged in a fraudulent transaction as described in sub-Article (1),","canonicalUrl":"https://eriatlas.com/law/penal-code-2015/article/366/#p2","sourceTargets":[{"sourceId":"penal-code-2015-en","pdfPage":260,"url":"https://eriatlas.com/sources/penal-code-2015/page/260/?article=366&paragraph=p2#article-366-p2"}]},{"id":"p2-tail","number":"","parentId":"p2","text":"is guilty of fraudulent lending, a Class 1 petty offence, punishable with a definite term of imprisonment of not less than 6 months and not more than 12 months, or a fine of 20,001 – 50,000 Nakfas, to be set in intervals of 2,500 Nakfas.","canonicalUrl":"https://eriatlas.com/law/penal-code-2015/article/366/#p2-tail","sourceTargets":[{"sourceId":"penal-code-2015-en","pdfPage":260,"url":"https://eriatlas.com/sources/penal-code-2015/page/260/?article=366&paragraph=p2-tail#article-366-p2-tail"}]}],"caution":"English-language 2015 Ministry of Justice edition. Refworld catalogues this English expression as an unofficial translation; Eri Atlas has not independently verified the translation."}