A LOAN shark couple have been ordered to pay back over £143,000.

Husband and wife pair Jesus Gutierrez, 57, and Maria Gutierrez, 56, both of Borderside, Slough, ran an illegal money lending business between February 2013 and November 2016. They issued over 150 loans to around 50 people, most of whom were from the Filipino community, ranging from £5,00 to £20,000.

The average loan was for ten months, and the couple charged a flat 50 per cent interest rate. One victim was forced to repay £3,000 after taking out a £2,000 loan to pay for his mother's funeral.

A joint investigation between the England Illegal Money Lending Team, Slough Borough Council's Trading Standards Team, and Thames Valley Police exposed the couple's crimes after documents containing evidence were recovered after a raid on their home in November 2016.

The pair pleaded guilty to illegal money lending and money laundering on April 6. Mr Gutierrez was sentenced to eight months in prison, suspended for 18 months, and made to carry out 200 hours of unpaid work. Mrs Gutierrez was sentenced to six months in prison, suspended for 18 months, and made to carry out 150 hours of unpaid work.

Following a hearing on August 17, the couple has also been ordered to pay back the proceeds of their crimes. Mr Gutierrez was ordered to pay back £117,471, while Mrs Gutierrez was ordered to pay back £26,031. Mr Gutierrez faces 18 months in prison, and Mrs Gutierrez faces nine, if they fail to comply.

The couple was also ordered to pay costs of £8,000.

Cllr Pavitar K. Mann of Slough Borough Council said: "Loan sharks prey on vulnerable people in a desperate financial situation, causing them to spiral into even more debt – and making their situation even more desperate. It only seems right that the defendants will be paying the proceeds of their crimes back.

"My advice to residents who find themselves in a difficult financial situation is to steer clear of loan sharks – you will only run into more trouble. Before taking on more debt, speak to Citizen’s Advice or the National Debtline in the first instance, who can advise you on the best way forward."

Tony Quigley, head of the Illegal Money Lending Team, said: "These criminals prey on the vulnerable and use callous enforcement methods to get their money back. This sort of behaviour will not be tolerated in Berkshire and we will continue to work with our council and police partners to stamp out this awful crime.

"We urge victims of loan sharks to contact us in confidence on 0300 555 2222 and help us bring these unscrupulous lenders to justice."