- By Stephen Fairclough & Nathan Bevan
- BBC News
Image source, Cardiff Council
An 83-year-old loan shark has been ordered to pay more than £173,000.
Tabitha Richardson, who avoided a jail sentence last August, had been illegally lending money for 20 years.
In that time she told people who missed repayments that she would “come looking for them” unless they came up with the money.
A proceeds of crime hearing at Cardiff Crown Court was told she would have to sell her house to raise the funds.
The court heard that Richardson, from Nash Road, Newport, had benefited from her criminal activities by £173,195.92.
She was ordered to repay the money through a confiscation order and six victims will receive compensation totalling £35,285.
Judge Hywel James said that if the money was not repaid within three months she could face a jail term of one year and nine months.
In 2023 Richardson was given a two year sentence, suspended for two years.
During that previous hearing the court heard she took advantage of vulnerable people and charged “extortionate” interest rates – as much as £400 on every £1,000 she lent.
The lending model she used was said to be copied from her previous employer, which offered legal loans.
Image source, Getty Images
Her individual money lending licence expired in 2003, but Richardson continued lending illegally and even told some customers that she was “not legally supposed to”.
When payments were missed she often sent text messages which were described as threatening and menacing.
She sent one customer a text which read: “Just ring me – you know I can find you,” adding: “Call me, before I come looking for you.”
Her actions came to light following an investigation by the Wales Illegal Money Lending Unit.
There will be a further hearing to determine costs on Wednesday.
