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Adele Atkinson, Professor of Practice in Financial Literacy and Wellbeing, University of Birmingham

Loan sharks: new data reveals they are often work colleagues or 'friends'

'Are you sure you don't want more?' Alex Segre

Malai Gambrill doesn’t sound like your typical loan shark. She was a woman in her early 50s working in a hospital in Gillingham, not far from London. She lent £3,000 to a colleague and supposed friend on the agreement that they would pay it back monthly, paying an extra £5 for each £100 that was outstanding.

The borrower paid back £4,650 over a period of nearly three years, only to be told that they still owed £3,000. At that point, they went to the police. Gambrill’s home was raided and the police discovered that she was running a whole money lending and pawning service on the side.

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