Man tells of 5-year loan shark abuse
A CAR dealer who turned to a loan shark to clear gambling debts has told how he repaid £60,000 on his original £1,500 loan.
The man, 53, said he was approached by the lender after losing cash on fixedodds betting terminals.
He said: “He was very sympathetic but it soon became obvious that all he was really focused on was making money from me.”
His story was publicised by the England Illegal Money Lending Team, which estimates 310,000 people are in debt to loan sharks in the UK.
After five years the classic car dealer, from West Yorkshire, told police, who pursued the lender.