Loan shark facing long jail sentence

A loan shark who admitted lending money illegally for two decades in Wales’ most deprived community has been warned he faces a “lengthy” prison sentence.

Robert Sparey, 55, from Y Cilgant in Caerphilly, pleaded guilty to illegal money lending, money laundering, selling counterfeit cigarettes and perverting the course of justice.

Speaking at Cardiff Crown Court, prosecutor Tim Evans said: “He has been a money lender since the late 90s.”

The court heard the offending occurred over a 20-year period between 1997 and 2017.

Sparey’s case was listed for a plea and trial preparation hearing before Judge Eleri Rees on Tuesday, October 17.

He pleaded guilty to one count of engaging in unlicenced money lending and one count of unauthorised money lending.

The defendant admitted possessing criminal property between January 2011 and April 2017, relating to the proceeds of the money lending, as well as counterfeit cigarettes.

He pleaded guilty to an offence under the Trade Marks Act, which related to counterfeit tobacco, likely to be mistaken for Mayfair Cigarettes.

And he admitted perverting the course of justice between January and May this year by attempting to persuade several people to give false evidence.

Sparey denied one count of intending to pervert the course of justice between 2004 and 2006, concerning evidence he gave in civil proceedings. That count was ordered to lie on file.

He entered his pleas on a basis and the judge noted there may need to be a trial of issue. Judge Rees warned the defendant he could face a “lengthy” prison sentence.