A loan shark who “preyed” on colleagues while working as a doctor at a hospital in Harrow has been ordered to pay back half a million pounds.
Dr Arjan Damjibhai Savani, of St Paul’s Avenue, in Kenton, was fined £525,000 during a hearing at Harrow Crown Court, in Hailsham Drive, today (Friday, March 17).
He must pay the money within three months or face a five year prison sentence.
The 49-year-old targeted Filipino colleagues while he worked as a consultant at Central Middlesex and Northwick Park hospitals, in Harrow, between 2011 and 2015.
He admitted to issuing loans ranging from £500 to £50,000 and knew he was acting illegally but believed it would take too long to obtain a licence.
Dr Savani also knew his victims could not afford to pay the money back and was aware that the Filipino community places a great deal of importance on honour.
Being unable to repay the debt would be “shameful” to the victim as a result.
He was arrested in December 2015 after being investigated by the England Illegal Money Lending Team (IMLT).
Officers also seized loan records which showed the doctor had received payments totalling £525,000.
In October 2016, he was given a 10 month prison sentence, which was suspended for 2 years.
Tony Quigley, Head of Service for the National Illegal Money Lending Team said: “Another loan shark has been ordered to pay back for the crime that they once committed.
“We are continuing to crack down on illegal money lending and bringing those who break the law to justice. It’s important to remember that loan sharks are only motivated by greed and should never been used.”