A loan shark has been told to expect a “lengthy immediate custodial sentence” by a judge after he admitted a string of charges.
Appearing at Cardiff Crown Court today, Tuesday, October 17, Robert Gareth Sparey, 54, of Y Cilgant, Penyrheol, pleaded guilty to illegal money, money laundering, breaches of the Trade Marks Act 1994 and attempting to pervert the course of justice.
The illegal lending offences happened over a 20-year period and took place on the Lansbury Park estate.
Recorder of Cardiff Eleri Rees warned Sparey that he can expect a “lengthy immediate custodial sentence” and if any of his bail conditions were breached he would be sent to prison until the date of the sentencing.
When Sparey previously appeared at Newport Magistrates’ Court, he was given conditional bail in which he could not give out any further loans, collect any money and was also not allowed to approach, communicate or interfere with any of the prosecution witnesses.
At Cardiff Crown Court Sparey was ordered to surrender his passport and was told he had to wear an electronic tag monitoring a set curfew where he has to be in his property between 8pm and 6am each evening.
He is due to be sentence on December 1 this year at Cardiff Crown Court.