Avoid loan sharks
Loan sharks have been found guilty in a Greater Manchester Court for approaching gamblers actually in casinos to take out illegal loans to enable them to continue gambling.
Zayant Mahmood and Javid Iqbal have been sent to jail for 14 months for illegal money lending and money laundering. The loan sharks would visit casinos and provide cash to gamblers at a rate of 300 pounds per 1000 borrowed.
The sharks have to payback 100,000 pounds of the proceeds of their crime. Mahmood will go to prison for a further 12 months if this is not repaid within 12 weeks.
UK Homeowner loans says if you or someone you know is have been approached for an illegal loan or you have borrowed money from a loan shark, get in touch with us,or contact the National illegal Money lending team on 0300 555 2222. Your call will be treated in confidence.
UK homeowner loans believes in legal and responsible lending.
Written by: Christopher Davy