Jail for loan shark who caused misery
loyd George Morrison, 45, ran an illegal money lending business for more than 20 years from his home in Handsworth Grange Close, Sheffield, and had dozens of customers.
One woman who borrowed 400 was forced to pay back 5,000 after just a few months and another victim, who borrowed 200, had to pay back
2,000.
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Hide AdJudge John Swanson said yesterday that Morrison "caused fear and misery over a long period of time" to vulnerable people and he commended the courage of those victims who came forward.
At a previous court hearing Morrison pleaded guilty to illegal money lending, acquiring criminal property and concealing criminal property.
He was investigated and prosecuted by the Yorkshire and Humber trading standards illegal money lending team (IMLT), on behalf of Sheffield Council.
A search of his home by the IMLT found a notebook containing a list of names and amounts of money, dating from January 1988. A truncheon and knuckleduster were also found in his house and a balaclava and body armour were found in his car.
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Hide AdPhilip Glaves, Sheffield Council's trading standards manager, said: "This investigation highlights yet again how illegal money lenders prey on the vulnerable within our communities, with victims lured into desperate situations caused by extortionate interest rates, spiralling debt, and the very real threat of violence and intimidation."