Loan Shark – Robert Gareth Sparey

LOAN SHARK - Robert Gareth Sparey, 55, from Y Cilgant in Caerphilly will be sentenced for a string of offences on December 1stat Cardiff Crown Court.

Appearing at Cardiff Crown Court on Tuesday, Mr Sparey pleaded guilty to illegal money lending over a 20 year period, money laundering, breaches of the Trade Marks Act 1994 and attempting to pervert the course of justice.

The loan shark targeted vulnerable people over this time period in Lansbury Park which is rated as the most deprived community in Wales.

When Mr Sparey previously appeared at Newport Magistrates' Court, he was given conditional bail that he could not give out any further loans, collect any money and was not allowed to approach, communicate or interfere with any of the prosecution witnesses.

The Recorder of Cardiff, Eleri Rees gave additional bail conditions today ordering that an electronic tag has to be worn by Mr Sparey and a curfew was set that he had to be in his property between 8pm and 6am each evening. He was also ordered to surrender his passport by 4pm on Tuesday.

Eleri Rees explained to Mr Sparey that he can expect a ‘lengthy immediate custodial sentence' and if any of the bail conditions were breached he would be sent to prison until the date of the sentencing.

If anyone is a victim of a loan shark, they are urged to call the Wales Illegal Money Lending Unit on 0300 123 3311.