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London loan shark sentenced for preying on gambling addicts
Wednesday 12th May 2010A London man who brought loan sharking to new depths by preying on vulnerable gambling addicts has been brought to justice.
Tottenham resident, Tung Quan Ha, 57, was unemployed and lived off benefits, but sidelined in actively seeking out vulnerable gambling addicts and offering them money whilst they were at their most desperate.
Unscrupulous Ha would trawl London, preying on victims of gambling addiction, and is thought to have spent £113,000 himself on gambling in the capital’s casinos.
His crooked activities were discovered when the police raided his home and found a notebook detailing his actions.
London’s illegal money lending team manager Peter Richardson said: “This is one of the worst cases we have seen. To have a loan shark seeking out those already in a vulnerable state through gambling addiction and financial pressures is a terrible situation.”
As well as the notebook, the team found £12,200 in cash and jewellery worth £66,000.
The loan shark pleaded guilty to charges at Isleworth Crown Court on Tuesday and is now being forced to hand over the money found in the apartment and to pay an £8,000 fine.
It is unknown how many people fell victim to Ha, nor how long he was loan sharking for. Sadly incidents like this aren’t as uncommon as often thought. The recession has brought in a wave of gamblers who often make easy prey for lurking sharks.
Anyone who is being intimidated by an illegal money lender, or loan shark, has been urged to call the Trading Standards illegal money lending team hotline on 0300 555 2222.
You can also email ‘reportloanshark@stoploansharks.gov.uk’, or text ‘loan shark + your message’ to 60003. All calls will be treated in strictest confidence.
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