A couple who acted as loan sharks, targeting vulnerable members of the Thai community, have today been handed suspended jail terms.
Christopher Bates, aged 63, and Salujkit Rudchat, 46, appeared at Basildon Crown Court today after admitting illegal money lending and money laundering offences.
The court heard that the pair ran an illegal money lending business from their home between May 2019 and August 2022.
Passing sentence, His Honour Judge Shane Collery KC told them they acted deliberately, and added pressure and intimidation that affected borrowers’ wellbeing and relationships.
He sentenced Bates to a total of 19 months in prison suspended for two years while Rudchat was sentenced to 16 months, also suspended for two years.
The case was prosecuted by the England Illegal Money Lending Team (IMLT). The IMLT began an investigation working in partnership with Essex Trading Standards and Essex Police after a report was made.
Mr Douglas Scott, prosecuting on behalf of the IMLT, told the court: “The defendants, ran an illegal money-lending business. Through a joint enterprise they lent money to borrowers, without authorisation, in an attempt to turn a profit.”
He said the agreed sum involved was £119,200.
The court heard the two, now of Goodhart Place, in the Limehouse area of London, acted together. Rudchat sourced borrowers through her contacts in the Thai community. All borrowers were Thai nationals.
Rudchat would be the main contact for the borrowers while Bates provided the money. He also drew up the loan agreements.
Investigators from the IMLT discovered 32 loan documents, relating to 16 borrowers.
Most of the documents required the borrower to pay back the loan at an annual interest rate of 96% per annum, or 8% per month. Two of the documents required an interest rate of 120% per annum or 10% a month.
Mr Scott said the reason for setting the interest rate at such a high level was with the intention of making a profit.
Many borrowers were unable to pay the money back and the defendants applied pressure in several forms, including threatening legal action – saying they would take borrowers to court if the money wasn’t paid.
They told borrowers they could be arrested or become subject to bankruptcy proceedings; said there may be citizenship or visa issues and also threatened to tell the borrowers’ husbands and families about the loan.
They said individuals would be blacklisted and employers told so they would be unable to work and friends would be told with social media posts to shame the borrower.
In one case, Rudchat and two friends turned up to a borrower’s workplace asking her to get into the car to talk about the debt. On another occasion they sent a message saying ‘where is our money, you’ll get a visit soon from us’.
Mr Scott read a statement from one borrower who said: “Christopher tried to take me to court to get more money from me. He told me I would lose my house and be sent to prison. I told customers of my food business to pay them instead of me which caused my business to fail. I felt really low and suicidal at the time . . . I still feel low every day and I can’t stop thinking about what an awful situation it was and how it ruined my family’s life at the time.”
Other borrowers told they made lots of personal sacrifices such as not being able to buy things for their child and one said it ended with her separating from her husband.
In defence, the court heard Bates and Rudchat struggled to initially understand the nature of the crime and Rudchat felt it was a reasonable amount of interest. Bates ended the enterprise of his own accord and was even out of pocket to the tune of around £6,500.
But the judge said they did target vulnerable people and subjected them to pressure and intimidation.
For illegal money lending Bates was sentenced to 19 months in jail suspended for two years, with 30 days of rehabilitation activity and 150 hours of unpaid work.
He faced two money laundering offences and was sentenced to 19 months for one and 14 months for the other, both suspended for two years. All sentences are to run concurrently.
Rudchat was given a 16-month sentence suspended for two years for illegal lending with 30 days of rehabilitation activity and 200 hours of unpaid work. For money laundering she was sentenced to 14 months suspected for two years, to run concurrently.
A POCA timetable was set.
Speaking after the case, borrowers and their families revealed the devastating impact of the case.
One borrower’s husband first found out about the lending when he received court notices from Bates saying he owed £45,000. He said: “The impact on my wife has been terrible…even to the point of suicidal thoughts. The power of feeling humiliated and stupid is immense.
“The impact on me has also been extreme. I am a strong guy who fights my own battles and deals with what life throws at me, full and front on. However, this saga has left me feeling like less of a man, a victim, weak and used…the anxiety has increased from none to jumping every time a letter comes through the door. I cannot suitably explain the levels of anger and self-hate this has caused, that I have had to tolerate being abused like this.”
Another borrower simply said: “I feel so relieved and grateful, also can smile again.”
Dave Benbow, head of the IMLT, said: “This case illustrates how illegal lenders prey on people’s vulnerabilities. In this instance, the lenders targeted members of the Thai community, presenting themselves as trusted friends before exploiting fears around visas and family shame to force repayments.
“These borrowers are still deeply affected years later and struggle to trust others as a result of this abuse. The impact on their wellbeing can be devastating. We are pleased to see how seriously the court has taken this offence, and we welcome this sentence. We hope it sends a clear message to anyone involved in illegal lending that this behaviour will not be tolerated.”
The original arrest in this case was in the Billericay area of Essex. The IMLT is a national team hosted by Birmingham City Council. It investigates and prosecutes illegal lenders and supports borrowers.
Anyone who thinks they may have been targeted is urged to contact the team for free, confidential support, by calling the 24/7 helpline on 0300 555 222 or sending a WhatsApp message to 07700 102773.
For more information and other ways to get in touch, visit stoploansharks.co.uk
