Ruthless Loan Shark Jailed For Five Years

Wed, 05 Aug 2009

A loan shark who terrorised customers in Manchester has been given a five-year jail sentence at Manchester Crown Court .

Multi-millionaire John Kiely was convicted of offences including blackmail and illegal money lending after the jury heard how he built his empire by charging borrowers up to 2,437 per cent interest on loans and used enforcers to collect debts owed by families on housing estates in east Manchester .

One of his victims, 45-year-old Donna Ockerby who borrowed £700 from Kiely for a wedding dress, claimed she was left fearing for her life and was forced to move to a secret location to escape him.

He was also found guilty of one count of acquiring criminal property, two counts of concealing, disguising, converting or transferring criminal property, and two counts of unlawfully failing to give notice of a change in circumstances.

Judge Adrian Smith said the 36 year-old was a "ruthless individual" who had "displayed a high degree of criminal sophistication."

Prosecutor Ben Mills said Kiely, who has a conviction for assault, made a profit of £2.9 million between October 2003 and his arrest in October last year. When arrested he estimated around 900 clients owed him £800,000 in outstanding loans .

Commenting on the sentence, Tony Quigley, head of the North West Trading Standards illegal money lending team, said: "Kiely showed contempt for the people he lent money to."

"This wasn't a community service, it was the sort of criminal activity that we are working hard to put a stop to."

"I am pleased with the sentence as it sends a clear message that these people are not untouchable. It shows that the criminal justice system will not tolerate this type of activity"
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