A loan shark who lent £120,000 to victims charging them with 60 per cent interest has been jailed.
The man from Tooting was caught lending to 67 people across south London last year following an investigation by the London Illegal Money Lending Team (LIMLT), and Wandsworth Council.
The project manager of the LIMLT stated that the man "also handed out a monthly penalty charge for late payments of up to £85 spiralling his victims into further debt."
The man was given a jail sentence in total of 18 months; eight months for illegal lending, and two separate eight month sentences for running two consecutive counts of money laundering.
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