A Caerphilly loan shark has been ordered to pay back £66,000 to three of his victims.
Gareth Jenkins, 63, of Heol Tyddyn, Castle View, Caerphilly, was jailed for 15 months in June last year after he admitted four illegal money lending charges under the 1974 Consumer Credit Act and the 2000 Financial Services and Markets Act.
At the time, Newport Crown Court was told how Jenkins lent this three victims more than £45,000, over ten years, and had forced them to pay him £66,000, with almost £20,000 of that in interest. The crime came to light after his victims made a complaint to the Wales Illegal Money Lending Unit
The loan shark has now been ordered to pay that money back, plus £30,000, through a Proceeds of Crime Act court hearing brought by the Wales Illegal Money Lending Unit.
When the unit raided Jenkins’ home, £30,000 was found stuffed in pillow cases under his bed with £61,000 recovered from two bank accounts.
Jenkins now has to pay a total of £91,073 in full in 28 days, or he will have to serve nine months in prison in default.
Stephen Grey, Investigations Manager for the Wales Illegal Money Lending Unit, said: “The unit is very pleased with this result, as this is the first time we have been able to use seized assets to provide significant sums of money to compensate the victims directly.
“If anyone thinks that a loan shark is operating near them, please call us and we can use this intelligence to investigate. Please call 0300 123 3311. All calls are confidential.”