Callous loan shark is brought to book
Aloan shark who lent his victims thousands of pounds before demanding huge repayment and interest has been handed a suspended prison sentence.
Lynn Davies, 58, who reportedly threatened one victim he would “smash her partner’s head in” if she did not give him what he demanded, was given six months to repay a total of £9,715 to four victims.
At his sentencing yesterday at Cardiff Crown Court, it was heard Davies had repaid his victims in full. The court heard he had also recently told a probation officer he was “sorry”.
It was previously reported there was no suggestion he ever used violence.
Davies, of Greenwood Road, Neath, was handed an 18-month prison sentence, suspended for two years after having previously pleaded guilty to two counts of unlicensed moneylending. He will also pay £50 per month for two years for legal costs.
Sentencing, Judge Patrick Curran QC said: “The law is in place to protect the weak from the deprivations of people like you. This sort of act exploits the vulnerable and draws people deeper and deeper into debt.”
Davies previously admitted that around £23,000 was lent to four people, and he received almost £10,000 interest over seven years.
Judge Curran added: “The sentencing must reflect the fact it was over a lengthy period. There were some particularly vulnerable victims and deliberately deceptive behavior was used, even concealing your identity and using another name as a front.”
Davies was also ordered to complete a 20-day rehabilitation course and given a two-month curfew in which he is required to remain indoors at his Neath address between 9pm-6am.
Judge Curran added: “Some of the evidence of intentional behavior in all these matters make it so serious only a custodial sentence can be justified.
“You maintained you didn’t have the funds to repay those who have lost, but I’m told you have repaid all the money, so the 18 months’ imprisonment will be concurrent upon each account.”
In January this year investigators received an anonymous tip-off about Davies’ illegal activities – which typically involved him charging £500 on top of every £1,000 lent. When searching through messages exchanged with his victims, they unearthed his disregard for their welfare.