JP investigated for illegal money lending
Businessman's consumer credit licence expired in 1993
The Scottish Illegal Money Lending Unit is investigating a Glasgow-based justice of the peace, according to today's Daily Record.
Businessman Gerald Levin, 73, served as a JP at Glasgow District Court and remains on the list although he no longer sits on the bench. His consumer credit licence expired in 1993 and was never renewed.
The unit raided his premises in Wellington Street, Glasgow, after a tip-off and seized ledgers and cash. The unit is said to have identified £70,000 in outstanding loans, at very high rates of interest.
A source in the unit is quoted as saying that those with outstanding debts to Mr Levin will not need to repay the money as the debts are unenforceable.
Investigators are preparing a report for the procurator fiscal.
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