Caerphilly loan shark Robert Sparey 'must repay victims'

Robert Sparey had pleaded guilty to illegal money lending, money laundering, selling counterfeit cigarettes and attempting to pervert the course of justice

A loan shark jailed for targeting vulnerable people for more than 20 years must repay 15 of his victims.

A proceeds of crime hearing at Cardiff Crown Court ordered Robert Sparey, 55, from Caerphilly, pay back £12,310 to the group.

He was jailed for three-and-a-half years by the same court last December after admitting a number of charges including illegal money lending.

The hearing was told he had charged £35 in interest for every £100 he loaned.

Prosecutor Tim Evans said: "Many of the people who end up borrowing from illegal money lenders are vulnerable.

"He used to brag that he could get them anything they want."

Prosecutors estimated there were 116 victims.

Sparey had pleaded guilty to illegal money lending, money laundering, selling counterfeit cigarettes and attempting to pervert the course of justice.

While conducting his illegal business the court heard he had claimed benefits including employment and support allowances, housing and council tax relief.

Sparey has three months to repay the money or face extra time in jail.