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| Newport loan shark, 83, ordered to repay £173,000 | Newport loan shark, 83, ordered to repay £173,000 |
| (32 minutes later) | |
| Loan shark Tabitha Richardson charged £400 interest on every £1,000 she lent | Loan shark Tabitha Richardson charged £400 interest on every £1,000 she lent |
| An 83-year-old loan shark has been ordered to pay more than £173,000. | An 83-year-old loan shark has been ordered to pay more than £173,000. |
| Tabitha Richardson, who avoided a jail sentence last August, had been illegally lending money for 20 years. | Tabitha Richardson, who avoided a jail sentence last August, had been illegally lending money for 20 years. |
| In that time she told people who missed repayments that she would "come looking for them" unless they came up with the money. | In that time she told people who missed repayments that she would "come looking for them" unless they came up with the money. |
| A proceeds of crime hearing at Cardiff Crown Court was told she would have to sell her house to raise the funds. | A proceeds of crime hearing at Cardiff Crown Court was told she would have to sell her house to raise the funds. |
| Loan shark, 83, who threatened victims avoids jail | Loan shark, 83, who threatened victims avoids jail |
| The court heard that Richardson, from Nash Road, Newport, had benefited from her criminal activities by £173,195.92. | The court heard that Richardson, from Nash Road, Newport, had benefited from her criminal activities by £173,195.92. |
| She was ordered to repay the money through a confiscation order and six victims will receive compensation totalling £35,285. | She was ordered to repay the money through a confiscation order and six victims will receive compensation totalling £35,285. |
| Judge Hywel James said that if the money was not repaid within three months she could face a jail term of one year and nine months. | Judge Hywel James said that if the money was not repaid within three months she could face a jail term of one year and nine months. |
| In 2023 Richardson was given a two year sentence, suspended for two years. | In 2023 Richardson was given a two year sentence, suspended for two years. |
| During that previous hearing the court heard she took advantage of vulnerable people and charged "extortionate" interest rates - as much as £400 on every £1,000 she lent. | During that previous hearing the court heard she took advantage of vulnerable people and charged "extortionate" interest rates - as much as £400 on every £1,000 she lent. |
| The lending model she used was said to be copied from her previous employer, which offered legal loans. | The lending model she used was said to be copied from her previous employer, which offered legal loans. |
| Cardiff Crown Court heard Richardson will have to sell her house in order to raise the funds | Cardiff Crown Court heard Richardson will have to sell her house in order to raise the funds |
| Her individual money lending licence expired in 2003, but Richardson continued lending illegally and even told some customers that she was "not legally supposed to". | Her individual money lending licence expired in 2003, but Richardson continued lending illegally and even told some customers that she was "not legally supposed to". |
| When payments were missed she often sent text messages which were described as threatening and menacing. | When payments were missed she often sent text messages which were described as threatening and menacing. |
| She sent one customer a text which read: "Just ring me - you know I can find you," adding: "Call me, before I come looking for you." | She sent one customer a text which read: "Just ring me - you know I can find you," adding: "Call me, before I come looking for you." |
| Her actions came to light following an investigation by the Wales Illegal Money Lending Unit. | Her actions came to light following an investigation by the Wales Illegal Money Lending Unit. |
| Speaking on behalf of some of Richardson's victims was Ryan Evans of Stop Loan Sharks Wales. | |
| "Often the hardest part often for them is to speak out and contact us, because they were scared and there's pressure not to be seen as a 'grass'," he said. | |
| "They didn't have enough money to eat or turn on the heating because they were forced to live on £100 a week, the rest of their money was going on paying back the loans." | |
| He added that he hoped the Richardson case will persuade other victims of loan sharks across Wales to take the first step and contact Trading Standards. | |
| "Once we're involved we can stop it overnight," said Mr Evans. | |
| There will be a further court hearing to determine costs on Wednesday. | |
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| Related Topics | Related Topics |
| Wales | Wales |
| Loan sharks | Loan sharks |
| Newport | Newport |