Harold Hill loan shark ordered to pay back £450,000 of his ill-gotten gains

PUBLISHED: 07:00 28 February 2018

Ho ming Ngan has been ordered to pay £450,000 in proceeds of crime for illegal money lenging. Photo: London Metropolitan Police.

Ho ming Ngan has been ordered to pay £450,000 in proceeds of crime for illegal money lenging. Photo: London Metropolitan Police.


A loan shark who cheated healthcare workers out of thousands of pounds has been ordered to pay back almost £500,000 in proceeds of crime.

Ho ming Ngan, 67 of Bedale Road, Harold Hill, received a two year suspended prison sentence after pleading guilty to illegal money lending and money laundering offences in March, 2016.

At a confiscation hearing on Thursday, February 22, at Snaresbrook Crown Court, Ngan was ordered to pay £450,000 under the Proceeds of Crime Act.

He has two months to pay the full amount or he will face four and a half years in prison.

The Illegal Money Lending Team (IMLT) brought the case against Ngan after officers, working in partnership with the London Borough of Havering Trading Standards and the police executed a warrant at his home address on December 8, 2015.

A financial investigation into Ngan’s illegal activities revealed that he was charging victims up to 50pc interest on loans and adding penalty surcharges for late and missed payments.

Tony Quigley, head of the England IMLT said: “The Proceeds of Crime Act ensures that loan sharks like Ngan are not profiting from deceitful illegal money lending activity.

“This result sends out a clear message that loan sharks who are caught flouting the law will be prosecuted and stripped of their available assets.”

During a search of the defendant’s home, officers seized paperwork which indicated that Mr Ngan was conducting an unlicensed money lending business and had issued over 60 loans.

At a sentence hearing, prosecution Simon Mortimer told the court that Ngan had been running an illegal money lending business for more than five years.

The prosecution added that the loan shark would visit borrowers’ homes and take photocopies of their personal documents including wage slips, utility bills and driving licences as a form of security on the loans.

One victim was put under extreme pressure by the loan shark to sell his house to clear his £13,000 debt.

If you have been the victim of a loan shark, the IMLT encourages you to get in touch at 0300 555 2222.

Related articles

Latest Romford News Stories

Yesterday, 14:59

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

Yesterday, 15:44

The Chimichanga Mexican restaurant in Hornchurch is one of 94 eateries being closed by the Prezzo Group over the next few months, it has been revealed.

Yesterday, 15:30

A new branch of JD Sports will be opening in Romford with a special fun sports day.

Yesterday, 14:33

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

Yesterday, 13:30

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.

Yesterday, 12:00

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

Yesterday, 10:00

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


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