Money laundering convictions news 09/02/2009 Loan sharks convicted on blackmail, rape and money laundering charges

A Cheshire loan shark has been convicted of crimes including money laundering, illegal money lending and rape, in an investigation run jointly by Cheshire Polices Economic Crime Unit and Trading Standards investigators.

Paul Nicholson was shown to have loaned money to people in Runcorn and Widnes at interest rates of up to 125%, and to have used threatened and actual violence in collecting the money. His partner, Tracey Rodgers, was also convicted of blackmail, operating without a licence and acquiring criminal property.

The Warrington Borough Councils Trading Standards Manager, Peter Astley, said, This was systematic abuse of really vulnerable people and he made a lot of money on their backs.

Senior investigating officer Det Insp Giles Orton said: These people should be applauded for bringing to justice a pair of loan sharks. The court heard first-hand from witnesses who were subjected to terrifying threats and intimidation which had a terrible effect on their lives. Their moral courage to stand up to Nicholsons wickedness was key to achieving justice.

Nicholson was found guilty of rape, 12 counts of blackmail, lying about his criminal record, operating without a licence, one money laundering charge under the Proceeds of Crime Act 2002 and two counts of assault, but was cleared on one charge of blackmail. Both Nicholson and Rodgers are to be sentenced on the 20th March 2009.

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