Search

Romford man Stephen Basstoe convicted of being loan shark

PUBLISHED: 09:00 29 September 2012

Basstoe will be sentenced next month in Basildon Crown Court

Basstoe will be sentenced next month in Basildon Crown Court

Archant

A 41-year-old Romford man has been convicted of illegal money lending, money laundering and blackmail following a seven day trial at Basildon Crown Court.

Stephen Basstoe, of Eastern Road, was investigated and prosecuted by the England Illegal Money Lending Team working in partnership with Havering Council Trading Standards and the police.

Basstoe ran his illegal business between December 2008 until his arrest in February 2011, the court head on Thursday of last week.

He is due to be sentenced on Monday October 29.

Cllr Geoff Starns, cabinet member for community safety, said: “It is so important that this loan shark has been caught and taken off the streets of Havering.

“We don’t want any of our residents falling victim to these illegal lenders. They prey on the vulnerable and use despicable threats and intimidation while carrying out their crimes.

“We would urge any of our residents who are considering going down this route that no matter how desperate you feel – loan sharks are not the answer. If you are in financial difficulty, speak to your bank or any lenders first to let them know your situation, there are also many organisations which can help, your local Citizen’s Advice Bureau is a good place to start.”

Tony Quigley, head of the England Illegal Money Lending Team, said: “Loan sharks are a scourge on our communities, causing nothing but misery and fear. As we continue to investigate and prosecute offenders, we are sending a clear message that this crime will not be tolerated. We would urge anyone who is involved with a loan shark to call us in confidence on 0300 555 2222.”

Latest Romford News Stories

15:00

Medieval England was slow to develop a cash economy. Coinage was in short supply.

12:00

Letters, contributions and comments sent in from Recorder readers this week.

The well-publicised delay to the Crossrail project will have come as frustrating news to many residents in our part of London.

Yesterday, 15:00

A look back at the biggest local stories from this day 60, 40 and 20 years ago

Yesterday, 14:00

We talk to hundreds of local business owners every day; we hear their concerns, understand their challenges and share in their successes.

Yesterday, 13:34

Officers forced entry to the address this morning (Saturday, September 22).

Most days we’re told we are too fat, too lazy and we have to do something about it. And that’s just from my friends.

Yesterday, 09:28

Rabbit hay was used to hide more than £10million worth of cannabis on a lorry stopped at the Dartford Crossing.

PROMOTED CONTENT

Vauxhall has completed its sport utility vehicle range with the third, and largest, Grandland X. We put the SUV, now available at Tony LeVoi in Romford, to the test.

“The time to repair the roof is when the sun is shining,” so the saying goes. So if some warm weather is making your conservatory uninhabitable, think about replacing its roof with a flat one and adding a roof lantern instead.

The next step in renewable energy could be right beneath your feet as you walk through a Romford shopping centre.

Newsletter Sign Up

Romford Recorder twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read news

Show Job Lists

Education Promo

News from your area

Digital Edition

cover

Enjoy the
Romford Recorder
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now