Financial crime specialist was a loan shark
A 58-year-old man from West London who worked as a qualified anti-money laundering specialist but ran an illegal money lending operation on the side has been handed a two year prison sentence, suspended for two years.
Dharmendra Devji Solanki, aged 58, admitted charges of illegal lending and money laundering and appeared before Inner London Crown Court to be sentenced on Friday, June 27. The case was prosecuted by the England Illegal Money Lending Team in partnership with Ealing Council Trading Standards and the Metropolitan Police. Inner London Crown Court
Passing sentence, the Judge, Recorder Shauna Ritchie told The court heard the defendant was arrested at his home.
“You were, prior to these offences, a man of good Bradley Gardens, West Ealing, in May 2022 following an character and knew more than most.” operation by the IMLT. An Apple MacBook was seized at the She said he took advantage of the borrowers and their time, which contained a CV in his name, showing he was insecurities and added: “You were fully trained in relation to ‘Financial Crime CAMS Qualified’ and listed the professional financial crime. The business you engaged in survived by body Association of Certified Anti-Money Laundering lending money to the financially vulnerable.”
A 47-year-old West Bromwich loan shark has been jailed for 30 months after making thousands of pounds in profit by exploiting the ‘financially vulnerable’.
Philip Walter appeared before Wolverhampton Crown Court on May 8, 2025 after admitting illegal lending and money laundering charges. Passing sentence, Judge Simon Ward told him that he was a loan shark who caused ‘human damage’ to the vulnerable people he targeted.
The court was told he didn’t use violence or direct threats, but Judge Ward said: “There will be some people for whom the snowballing of interest is as frightening as having their leg broken.”
He said it was effectively stealing from people by charging interest and told Walter: “These are people that were absolutely desperate and thought that borrowing money from you was their only way out. When you did lend them the money, they had to pay you back at a rate way above anything that was appropriate or reasonable.”
He added: “The whole point of prosecuting people like you is to stop people like you causing damage to the vulnerable and desperate.” The case was prosecuted by the England Illegal Money Lending Team (IMLT), working in partnership with Sandwell Trading Standards and West Midlands Police.
Mr Joseph Millington, prosecuting on behalf of the IMLT, told the court that Walter ran his illegal lending operation over a period of around six years, lending more than £375,000 to 58 people and receiving over £515,000. A warrant was executed at Walter’s home in Beeches Road West Bromwich in October 2023, following an investigation by the IMLT.
In defence, the court heard Walter had suffered from mental health problems, was working and had a partner and children. He started lending after being in debt himself. Walter was sentenced to 22 months in jail for the money laundering offences and eight months for illegal lending, to run consecutively, giving him a 30-month total sentence.