Unlicensed pawnbroker faces jail [Wales on Sunday (Wales)]
(Wales on Sunday (Wales) Via Acquire Media NewsEdge) A CONVICTED fraudster ran a pawnbroking business with an "astronomical" typical APR for loans at one shop of 66,231%, a court heard.
Graeme Walker, 51, who was jailed in 2008 for selling fake autographs of sports stars including Jonny Wilkinson, Wayne Rooney and Steven Gerrard at a Chester shop, admitted illegal pawnbroking and money-lending between January 2010 and November 2011. He had no Office of Fair Trading licence.
Caernarfon Crown Court heard he operated shops at Buckley and Connah's Quay called Goldstar Jewellery and Buy It, Sell It, Pawn It.
Walker, of Mountain View Close, Connah's Quay, received a 10- month jail term, suspended for 18 months, and must do 250 hours' unpaid work. He must also pay Pounds 5,000 costs and an Pounds 8,161 confiscation order was made - the amount by which he was alleged to have benefited.
Judge Peter Heywood said the average APR at Connah's Quay was "astronomical", but he added: "Here no individuals have suffered."
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