A loan shark from Caerphilly has been jailed for 15 months after preying on a vulnerable couple.
Gareth Jenkins, 63, of Heol Tyddyn, Castle View, Caerphilly, was sentenced at Newport Crown Court on June 24 after pleading guilty. The court heard how Jenkins was charged after a couple he lent to, Robert and Valerie Young and another victim, Robert Jones, came forward to complain.
In total, Jenkins lent over £45,000 to his three victims and was paid £66,060 in return, generating £19,818 in interest.
The court was told how Jenkins was in possession of the Young’s Post Office cards and would withdraw money directly from their account.
A search on Jenkins’ home found £30,680 in cash, jewellery and a number of papers and small note books filled with names and figures.
Stephen Grey, Investigations Manager for the Wales Illegal Money Lending Unit, said: “Gareth Jenkins has been brought to justice. The 15 month immediate custodial sentence should send a clear message to loan sharks that their illegal business will not be tolerated.
“We will prosecute loan sharks with a view to securing the maximum possible sentence. We will then pursue them through a Proceeds of Crime Hearing to recover as much money as possible from their crimes to compensate the victims.
“In this case Jenkins operated as a loan Shark for over ten years. The impact on his victims was considerable and he will now have plenty of time to contemplate his crimes behind bars.”
Its a shame they cant do this to the legal loan sharks like pay day lenders who charge extortionate rates to those least likely to afford it!
It always seemed to be a thin line of difference to me as well. One has a licence to take your property if you fail to pay back money owed and one doesn’t. I understand that these people were desperate for the money and the situation is complex but they did actually borrow the money.
Quite right Pete boy, they did borrow the money, now how did you work that out?
But you clealry miss the point, No one has the right to intimidate, threaten, or otherwise subjugate any other citizen, or, gain ascendancy over them by having control of their total household income. This method of money lending is not the same as the regulated sort, just as finacially problematic, but not the same.
Jeff this is getting old and a bit embarrassing now. I pretty sure the other contributors are getting a bit bored of us hijacking random threads just to have a pop at each other. Take the last jab and chill out so everyone can use this forum with out seeing our names and rolling their eyes.
My comment is not ABOUT you it reacts to what you said, perfectly rasonable.:- I would say if you dont want a reaction dont say it, not everyone, not many at all in fact appear to agree with many of your comments but, that said, fine, free speech and all that, certainly dont winge when people dont react to your comments like a sycophantic lap dog.
My comment was:-
“But you clealry miss the point, No one has the right to intimidate, threaten, or otherwise subjugate any other citizen, or, gain ascendancy over them by having control of their total household income. This method
of money lending is not the same as the regulated sort, just as finacially problematic, but not the same”
If you want to react to that comment lets have it, I am sure you will do so with courtesy and respect to the writer.
Sentence a little light in my opinion, this bloke is the same as a burglar. I know people are often gullible but those who prey upon them are as much a thief as someone who breaks into their home.
i’ve never read so much garbage and lies about someone in all my life! how Mr and Mrs young who claim to be “vulnerable” yet drink theyre benefits up every night at a club in caerphilly town and walk theyre dog everywhere and go on weeks away abroad in theyre car get away with utter lies is beyond me! he’s an innocent man! they’ve got no proof of this money being lent or recieved, the jewellery was his own personal purchase from a family member back as a youngster, money was inherited and kept in the home of his as he didnt trust the banks!