Romford man Stephen Basstoe convicted of being loan shark
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.
You may also want to watch:
“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.”
Most Read
- 1 Watch police break up 20-person Hornchurch baby shower
- 2 Debenhams, Liberty Centre, to permanently close
- 3 De Rougemont Hotel plans to revert to being homes
- 4 Pub owner 'drilled through cables' weeks before boy was electrocuted, court told
- 5 Havering Council looking for residents to become Covid marshals
- 6 Romford cancer patient describes impact of Covid pandemic on mental health
- 7 Watch police fine seven in Romford for watching TV together
- 8 Hornchurch Athletic captain excited by league switch and a new sponsorship deal
- 9 Council report reveals concern that borough's Covid vaccination drive may be held back
- 10 Mick Norcross, The Only Way Is Essex star, has died aged 57
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.”
