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Businessman who lent money at rates of 11,000 per cent spared jail
15/10/2008
A businessman who illegally lent money on interest rates of up to 11,000 per cent was spared prison yesterday.
Vivian Young, 52, owner of a taxi and carwash firm, had loaned tens of thousands of pounds since 2003 - including more than £31,000 to 63 friends who still owed him £164,000.
Young admitted running a consumer credit business without a licence and was given 100 hours' community service by Portsmouth crown court.
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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin
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