A loan shark from Wembley has been ordered to pay back thousands in proceeds of crime.
Following a hearing at Harrow Crown Court last week (Friday 15 September), Velar Sithamparapillai, 64, of Tudor Court North in Tokyngton was ordered to pay back over £28,000 in proceeds of crime - informed brent.gov.uk.
Mr Sithamparapillai received a nine month suspended prison sentence after pleading guilty to illegal money lending and money laundering between January 2010 and July 2014 at an earlier hearing in May.
The England Illegal Money Lending Team (IMLT), who work in partnership with Brent Council’s Trading Standards Team and The Metropolitan Police, secured a warrant at the loan shark’s home on 16 July 2016. Loan agreements, a large quantity of jewellery and documentation indicating that the defendant was conducting an unlicensed money lending business was found.
Cllr Tom Miller, Brent Council Cabinet Member for Stronger Communities, commented:
“This result shows what can be achieved when agencies work closely together and it strikes a blow against illegal money lending in Brent.
“Loan sharks are criminals who prey on vulnerable people and they blight our communities. They fleece their victims and have been known to use intimidation and violence to get their money.
“We want to let residents in Brent know that we will not allow this criminal behaviour and we will work with our partners to target those who think they are above the law and can get away with it.”
Tony Quigley, Head of Service for the National Illegal Money Lending Team said:
“Another loan shark has been ordered to pay back for the crime that they once committed.
“We are continuing to crack down on illegal money lending and bringing those who break the law to justice. It’s important to remember that loan sharks are only motivated by greed and should never be used.
“If you or someone you know has been the victim of a loan shark, we urge you to get in touch with the IMLT on 0300 555 2222. Your call will be handled confidentially by one of our trained officers.”
To report a loan shark:
- Call the 24/7 confidential hotline0300 555 2222
- Text a report to078600 22116
- Visit the website www.stoploansharks.co.uk
- E-mail firstname.lastname@example.org
- Private message us on www.facebook.com/stoploansharksproject
Read more news of London here.