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


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

just now

Two women who embarked on cocaine-fuelled crime rampage through Romford, Hornchurch and Upminster Bridge have been jailed for a total of 12 years and nine months.

28 minutes ago

A man from Hornchurch has been arrested in connection with the stabbing of a man, last night.

At one time or another, everyone has blurted out the lyrics to Whitney Houston’s I Will Always Love You, Aretha Franklin’s Respect or the heart-wrenching theme tune from Titanic, when they think no one else is listening.


Residents of all ages braved snow and freezing temperatures to clear up rubbish surrounding a pub in their community.

Progress continues to be made in the fight against fly-tippers as Havering Council relishes in its latest successes.


Residents and councillors rallied outside the town hall in protest against over development and a loss of green spaces in Havering.


A man from Chadwell Heath who tried to lure an 11-year-old girl into his minibus by saying “we can be friends” has been jailed.

There are almost 25,000 more patients registered to NHS services in Havering than there are people in the borough, according to newly released patient records.


Fed up with haggling on people’s drives over a used car, only to find out later it’s on its last legs?

Many drivers will be heading to the showrooms in March looking to pick up a car bearing the shiny new 18 registration plate.

Window and conservatory specialist Ken Rhodes talks about the possibilities for brightening up your home for the new year, and with their home improvement finance deals it’s possible for everyone to make some changes

Newsletter Sign Up

Sign up to receive our regular email newsletter

Most read news

Show Job Lists

News from your area


Having a brand new kitchen is something that lots of people want but can only dream of. Sadly keeping up to date and making our living spaces as nice as they can be is a costly and incredibly stressful business. Even a fresh coat of paint makes all the difference but isn’t easy or quick.

Who wouldn’t love the chance to go on a shopping spree. Imagine being able to walk into a shop and choose whatever your heart desires without having to worry about how much it costs.

Digital Edition


Enjoy the
Romford Recorder
e-edition today


Education and Training


Read the
Education and Training
e-edition today

Read Now