Justice has caught up with greedy Ian Kevin Carroll after he preyed on dozens of vulnerable people, fleecing them of £200,000 with his criminal interest rates.

The loan shark, of Nelson Road, Gillingham, claimed more than £191,000 in repayments, demanding his “customers” pay at least double what they had borrowed.

Ian Kevin Carroll, issued 282 loans to at least 71 individuals over three years.

One woman, who was paying him more than £450 a month, said she met the 58-year-old 10 years ago when he worked for a legitimate company as a debt collector.

But Carroll told her he could do her a better deal on electrical appliances, and since then she had purchased “loads of goods”.

Another victim bought a £400 cooker from Carroll and made a year’s worth of repayments at £36 a month. When she said she had paid more than what the cooker was worth, he replied “you’ve still got a long way to go”.

The victim made 21 repayments totalling £756 and understood the payments were due to be for three years, totalling £1,296.

But an investigation by the England Illegal Money Lending Team, Trading Standards and Kent Police brought Carroll’s illegal activities to an end. A search of his home uncovered payment cards and around £1,000 in cash.

“You took advantage of the financial vulnerabilities of your customers for your own benefit” - Recorder McDonagh

The 58-year-old has now been jailed for 16 months after pleading guilty to two counts of illegal money lending and one count relating to money laundering.

Carroll was sentenced at Maidstone Crown Court and Recorder Matthew McDonagh heard that he had made a profit of around £30,000 between June 2012 and September 2015.

Craig Evans, prosecuting, said that Carroll’s interest rates were extremely high and the loans were agreed verbally without anything put in writing or signed for.

Mr Evans said it was a “professional, organised and substantial operation” and the only paperwork that would be issued to the borrower would be a payment card, which would be amended each week to show the repayments and how much was outstanding.

Often this would be torn up once the loan had been repaid so there was no paper trail left.

Recorder McDonagh said: “You took advantage of the financial vulnerabilities of your customers for your own benefit.”

To report a loan shark, call the ILMT's 24/7 confidential hotline on 0300 555 2222, text 078600 22116 or email reportaloanshark@stoploansharks.gov.uk