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  1. ITV Report

Caerphilly loan shark admits illegal money lending over 20-year period

A loan shark has appeared in court to admit illegal money lending over a twenty year period.

Credit: Cardiff Council

Newport Magistrates Court heard Sparey targeted vulnerable people over this time period in Lansbury Park which is rated as 'the most deprived community' in Wales.

Robert Sparey, 54, also admitted trying to sell fake cigarettes and tobacco and attempting to persuade witnesses not to give evidence against him.

Dressed in a white shirt and dark jacket, Sparey spoke only to confirm his name and enter his pleas.

He has been a money lender since the late nineties.

This is continuous behaviour from about 1997 to 2017.

– Prosecutor Tim Evans

Sparey pleaded guilty to engaging in an unlicensed money lending activities, using or possessing criminal property, possessing goods baring registered a trademark with a view to offer for sale, and perverting the course of justice.

Another count of perverting the course of justice, which Sparey denied, will lie on file.

Sparey, of Caerphilly, south Wales, was granted bail until his sentencing on December 1 and was ordered to surrender his passport by 4pm today.

The Recorder of Cardiff Eleri Rees explained to Mr Sparey that he can expect a ‘lengthy immediate custodial sentence’ and if any of the bail conditions were breached he would be sent to prison until the date of the sentencing.