'This sends a clear message': Telford loan shark's £150k court order welcomed by specialist team
A specialist team which prosecuted a Telford loan-shark has welcomed a court order telling him to pay more than £150k.
Alvin Hutchinson, of Telford, lent money to several people illegally between January 2015 and May 2019, with his victims including a number of workers at a garage in Wolverhampton.
Hutchinson, who is now 55, was jailed for 28 months in 2023 after admitting "carrying on a regulated activity when not an authorised person" and making "an attempt to conceal criminal property".
Shrewsbury Crown Court previously heard that one of his victims was charged an initial 40 per cent interest on a loan – and that if the money was not paid within a week another 40 per cent was added on top.
One man ended up owing Hutchinson £3,000, having borrowed between £500 and £600.
Last week a court concluded Hutchinson had benefited by £155,724 from his criminal activity - adjusted upwards for inflation to £196,564.
The court heard his available funds amounted to £158,901 and Judge Deni Mathews ordered he pay that amount within three months.
If he does not pay the money he may have to serve a two-year prison sentence in default.
The case was prosecuted by the England Illegal Money Lending Team (IMLT) in partnership with Telford Trading Standards and West Mercia Police.
'A clear message that crime doesn't pay'
Speaking after the most recent hearing, head of the IMLT, Dave Benbow, said: “We welcome this confiscation ruling, which sends a clear message that this kind of crime doesn’t pay.
"Hutchinson made thousands of pounds by exploiting vulnerable people and it is only right that he should not continue to benefit from the money he made.
“Illegal money lending can destroy people’s lives, and we will continue our fight to stop these criminals. Some of the money confiscated in this case will be used to help in our work to combat the menace of illegal lending across England.
"“We would like to thank the borrowers in this case for coming forward and we would urge anyone who thinks they have been targeted in this way to contact us in confidence for help and support.”
Threatened and intimidated borrowers
Shrewsbury Crown Court heard back in 2023 that Hutchinson threatened and intimidated borrowers.
He forced one to buy a 65in TV on credit, which he then used, leaving the customer struggling to make the repayments.
One borrower, who Hutchinson met in Wolverhampton, took loans of between £100 and £200 and was charged 40 per cent interest, but if the capital wasn’t paid off after a week, another 40 per cent was added.
Hutchinson ran his lending operation between January 2015 and May 2019 but did not have the necessary authorisation from the Financial Conduct Authority (FCA).
The IMLT launched an investigation and in 2019 executed a search warrant at his home.
The IMLT is a national organisation hosted by Birmingham City Council. Since it was set up in 2004, it has supported more than 31,500 people and written off over £91.6 million of illegal debt.
More than 430 prosecutions have been secured for illegal money lending and related activity, which has resulted in custodial sentences adding up more than 600 years.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222, or access support online at www.stoploansharks.co.uk.
Live Chat is available on the website from 9am to 5pm, Monday to Friday.
