A former Inland Revenue Tax Inspector was convicted at Cardiff Crown Court on Friday 19th February, having pleaded guilty to illegal money lending. Richard Griffiths, aged 68, from Longfellow Drive, Cefn Glas, Bridgend, was sentenced to 10 months suspended for 12 months with a 12 months supervision order.
The Wales Illegal Money Lending Unit executed a Consumer Credit Act Warrant at Griffiths’ then home address in Gurnos Road, Merthyr. During the search a book was recovered containing details of 54 people who had loans with him amounting to a total of £66,960. At the time of seizing the book, the money already recorded as repaid was £79,330.67.
In interview Griffiths admitted being an illegal lender but would not name the people he had made loans to. He offered little assistance to identify his victims, however 21 were traced. Some individuals, although giving statements, were reluctant to give evidence due to the embarrassment and humiliation he had brought on them.
One victim said that Griffiths had taken her income support book to ensure payment. He would charge up to 50% interest on his loans.
Steven Hay, Trading Standards Manager for the Wales Illegal Money Lending Unit said: “Loan Sharks target the most vulnerable within our communities and use threats and intimidation to enforce the debts.
Richard Griffiths targeted vulnerable people in Merthyr and used despicable tactics to collect what he believed they owed him.
The illegal money lending unit are working on behalf of communities throughout Wales. They work closely with local authorities and the police to ensure those engaging in such activities are apprehended and the victims of their crime supported.”
Contact Wales Illegal Money Lending Unit 0300 123 3311 or Stop Loan Sharks 0300 5552222.
