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Filipina In Cambridge Pleads Guilty To Loan Sharking

21 Feb 2013

A woman from Cambridge has pleaded guilty to three counts of illegal money lending, following an earlier hearing at Cambridge Crown Court.

Norberta Pineda, 52 of Coldhams Lane by Cambridge airport, was arrested in July last year, after the England Illegal Money Lending Team, who work in partnership with Cambridgeshire County Council executed a warrant at her home seizing documentary evidence, including signed cheques from borrowers which would be cashed if they did not pay on time. Pineda ran the illegal business for two years lending to at least 20 borrowers.

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She will be sentenced on Friday 22nd February at Cambridge Court Crown.

Nationally the Stop Loan Shark Project has secured 220 prosecutions for illegal money lending and related activity, leading to more than 150 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 19,000 victims.

The project which is coordinated with local trading standards officers and police ha been cracking down on the blight of loan sharks who prey on the vulnerable in society, especially those who are foreign and do not necessarily have bank accounts and access to loans and overdrafts at normal rates. 

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