Larne man sentenced for illegal moneylending
Steven Spence was given a 20-month custodial sentence suspended for two years for illegally lending money
- Published
A man has been given a suspended sentence for illegally lending more than £250,000.
Steven Spence, 45, of Greenland Parade in Larne, was given a 20-month custodial sentence suspended for two years.
He was convicted of carrying on a regulated activity in breach of general prohibition and acquiring criminal property.
The investigation was carried out by the PSNI's Paramilitary Crime Task Force.
'Very serious offence'
During the investigation police searched a house linked to Spence where they found ledgers with "hundreds of names recorded".
Det Insp Corrigan from the Paramilitary Crime Task Force said: “The examination estimated that the monies borrowed in one ledger totalled £241,484 and the second £25,800.
“A number of additional financial checks were made by our partner agencies and Mr Spence’s bank account transactions were also thoroughly examined for financial fraud.
“Lending money illegally is a very serious offence and we, along with partner organisations, remain committed to disrupting the activities of those involved with illegal activity, including financial fraud."