Jailed: 'Cruel' loan shark intimidated and 'humiliated' victims to make almost £93,000
An illegal loan shark who intimidated and 'humiliated' his victims has been jailed.
Alvin Hutchinson, 53, of Hartley Close, The Rock, Telford, admitted charges of 'carrying on a regulated activity when not an authorised person' and 'an attempt to conceal criminal property', when he appeared at Shrewsbury Crown Court.
Simon Mortimer, prosecuting, said that the lending had taken place between January 2015, and May 2019, with a number of victims being based in Wolverhampton, working at a garage in the city.
The court heard that police had raided Hutchinson's Telford home and seized mobile phones containing evidence of the lending, while carrying out an investigation to examine his bank accounts and those of other family members.
Mr Mortimer told the court that Hutchinson, a used car salesman, had made at least £92,800 from his victims – and had used a number of family bank accounts to conceal the money.
He was also said to have intimidated the victims to get money back, and on one occasion punched one in the nose.
The court was also told how on occasions Hutchinson forced people who owed him money to take out credit agreements for items such as televisions, and would then take the goods, leaving the victims paying for items they would never receive.
