In the Media

Loan shark who charged 8,000% interest rate jailed for four years

PUBLISHED July 27, 2005

A loan shark who preyed on the sick and poor, charging interest rates of up to 8,000 per cent, has been jailed in the first case of its kind.

The case is the first to be brought by the Loan Shark Unit, a pilot project in Birmingham set up by the government to crack down on illegal money-lending. Specialist investigators use surveillance to track loan sharks, and encourage victims to come forward to prosecute offenders.