Conviction of Edinburgh woman 'shows the serious nature of illegal money lending'
An Edinburgh woman who charged 10% interest on an £18,000 loan and used social media to harass and intimidate the borrower has been ordered to carry out 144 hours of unpaid work.
Methawee MacKay, from West Pilton, heard large amounts of cash, jewellery and other evidence linked to illegal money lending were recovered during a raid on her property.
She pleaded guilty to the offence at the city's Sheriff Court in July this year.
A Confiscation Order hearing will follow on November 18th.
Edinburgh Sheriff Court heard MacKay lent £18,000 to a business owner living in England, charging 10% interest every month.
She subsequently used social media to harass and intimidate the borrower into making repayments.
The borrower eventually sought help from the England Illegal Money Lending Team (IMLT) who referred the matter to the Scottish Illegal Money Lending Unit (SIMLU).
SIMLU subsequently led the investigation whilst the IMLT continued to provide support to the borrower throughout the process.
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During the investigation SIMLU executed a warrant at MacKay’s Edinburgh property where large amounts of cash, jewellery and other evidence linked to illegal money lending were recovered.
Fiona Richardson, Chief Officer of Trading Standards Scotland, said: “This conviction shows the serious nature of illegal money lending, not just in Scotland, but across the UK.”
“The collaboration between both the Scottish Illegal Money Lending Unit and the English Illegal Money Lending Unit shows how we work together to achieve positive outcomes for people who have borrowed from loan sharks. It is vital that people who have borrowed understand that they are a victim of a crime and that the lender is the person committing the offence”
“Staff from the Illegal Money Lending team can provide support and advice to people impacted by loan sharks. This is done through our 24/7 confidential support line, 0800 074 0878 or by visiting our website www.stopillegalending.co.uk. We would urge anyone that is aware of an illegal money lender operating in their area to report them.”
Enquiries are continuing and anyone who would like to discuss this issue is urged to contact the Scottish Illegal Money Lending Unit on our confidential support line on 0800 074 0878 or visit our website at www.stopillegallending.co.uk for further information.