A loan shark has admitted illegally lending money and money laundering.
Arlyn Pirzada, of Lillie Road, Fulham, appeared at Isleworth Crown Court on February 10. She pleaded guilty to engaging in activity requiring a licence, one count of possessing criminal property and another of transferring criminal property between 2009 and 2013.
The 49-year-old was arrested in February last year after the England Illegal Money Lending Team, which works with Hammersmith and Fulham Council , searched her home and seized more than £12,500 in cash and documents relating to her loan shark business.
She will be sentenced on March 17.
Councillor Greg Smith, deputy council leader, said: “Loan sharks use despicable methods to exploit some of the most vulnerable members of society. They are a blight to our communities, pretending that they generally care about someone’s welfare only to charge the most exorbitant interest rates.
“We are working hard to rid the borough of the scourge of loan sharks but in the meantime our advice is to avoid any contact with them.”
To report a loan shark, email reportaloanshark@stoploansharks.gov.uk or call the 24 hour confidential hot line on 0300 555 2222.
