Larne man sentenced for illegal moneylending

Image source, Getty

Image caption, Steven Spence was given a 20-month custodial sentence suspended for two years for illegally lending money
  • Author, Elaine Mitchell
  • Role, North East Reporter

A man has been given a suspended sentence for illegally lending more than 拢250,000.

Steven Spence, 45, of Greenland Parade in Larne, was given a 20-month custodial sentence suspended for two years.

He was convicted of carrying on a regulated activity in breach of general prohibition and acquiring criminal property.

The investigation was carried out by the PSNI's Paramilitary Crime Task Force.

'Very serious offence'

During the investigation police searched a house linked to Spence where they found ledgers with "hundreds of names recorded".

Det Insp Corrigan from the Paramilitary Crime Task Force said: 鈥淭he examination estimated that the monies borrowed in one ledger totalled 拢241,484 and the second 拢25,800.聽鈥ㄢ

鈥淎 number of additional financial checks were made by our partner agencies and Mr Spence鈥檚 bank account transactions were also thoroughly examined for financial fraud.

鈥淟ending money illegally is a very serious offence and we, along with partner organisations, remain committed to disrupting the activities of those involved with illegal activity, including financial fraud."