149,000% loan rate

A LOAN shark who charged interest rates of up to 149,000 PER CENT has had his profits seized.

Patrick Timothy Kiely, 26, has already served two years in prison.Kiely loaned money to more than 500 people around North Wales. An expert worked out he charged between 327 per cent to 149,000 per cent APR.Kiely, who now lives in Manchester, had denied money lending without a licence, but was convicted by a jury.

Kiely, who now lives in Manchester, had denied money lending without a licence, but was convicted by a jury.