DHILLON:LOAN SHARK FACES JAIL FOR RUNNING ILLEGAL CASH LENDING FIRM
A loan shark is facing jail after he admitted running an illegal money lending business.
Jagdev Dhillon, 56, loaned out more than £64,000 between March 2003 and October 2009.
Sotuhwark Crown Court heard Dhillon demanded his victims repay him at interest rates of up to 130 percent.
When his home was searched officers found a log of loans alongside repayments written in Punjabi.
In total he loaned out £64,110, the court heard.
Dhillon, of Nelmes Way, Hornchurch, Essex, admitted engaging in a consumer credit business without a licence and to acquiring, using or possessing criminal property between March 23, 2003, and October 7, 2009.
He was remanded on bail ahead of sentence on September 2.
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