A brother and sister who operated a loan shark business have been ordered to pay back more than £350,000.
John Mulvey, 57, and Mary Wilding, 71, appeared at Isleworth Crown Court in February 2020 when they were each sentenced to 12 months in prison suspended for two years after admitting illegal money lending.
The case came before the court once again yesterday for a hearing where the pair were ordered to pay back £357,719.
They have three months to pay the money back and their sentences of two and half years for Mulvey and two years for Wilding were fixed.
The case was prosecuted by the England Illegal Money Lending Team (IMLT) alongside trading departments in Croydon and Lambeth councils and the Met.
The IMLT got their first warrants to enter Mulvey’s home, in Greyhound Lane, Streatham Vale, and Wilding’s home in Limpsfield Road, South Croydon, in December 2017.
Officers found thousands of pounds in cash as well as loan agreements and loan books.
The court at the time heard that 404 loans, valued at over £334,000, had been provided to 53 regular borrowers since 2013. Victims were charged 25 per cent interest on loans and told to keep the agreement secret.
Tony Quigley, head of the IMLT, said: “This is a case that has been going on for some years, but it shows that we are determined to ensure these illegal lenders do not continue to benefit from their criminal behaviour.
“Part of the money that is paid back through the proceeds of crime act will be reinvested to strengthen our work to protect the most vulnerable from these ruthless predatory lenders.
“I would urge anyone with any information about illegal lending activity to report it through our confidential hotline, so we can take action and remove these people from our communities.”
(Picture: Images of Money/Flickr)
Related Stories
Everyone at the South London Press thanks you for your continued support.
Former Housing Secretary Robert Jenrick has encouraged everyone in the country who can afford to do so to buy a newspaper, and told the Downing Street press briefing:
“A free country needs a free press, and the newspapers of our country are under significant financial pressure”.
If you can afford to do so, we would be so grateful if you can make a donation which will allow us to continue to bring stories to you, both in print and online. Or, please make cheques payable to “MSI Media Limited” and send by post to South London Press, Unit 112, 160 Bromley Road, Catford, London SE6 2NZ