A 57 year old man has today pleaded guilty to illegal money lending just before he was due to stand trial at BirminghamCrown Court. He admitted six charges of illegal money lending, a charge of blackmail and money laundering.
Ping Wing Yau (also known as Simon Yau) was arrested in March 2012 after the England Illegal Money Lending Team, who are hosted by Birmingham City Council executed a warrant at his home in Dunnigan Road, Weoley Castle.
He will be sentenced at Birmingham Crown Court on Friday 17th May 2013.
Cllr Barbara Dring, Chairman of the Public Protection Committee at Birmingham City Council, which oversees the England Illegal Money Lending Team “This is another successful result which sends a clear message that loan sharks will not be tolerated. These criminals are a scourge on our communities and we would urge people to avoid them at all costs. If you have been a victim of a loan shark, the England Illegal Money Lending Team are here to help. Call 0300 555 2222 to speak to an investigator in confidence.
Nationally the Stop Loan Shark Project has secured 222 prosecutions for illegal money lending and related activity, leading to more than 150 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 19,000 victims.
To report a loan shark
Call the 24/7 confidential hotline 0300 555 2222
Text ‘loan shark + your message’ to 60003
Private message us on www.facebook.com/stoploansharksproject