FCA makes appeal to victims of illegal loan scheme

The FCA has urged customers who took out a loan with Dharam Prakash Gopee to contact them, as they may be eligible for compensation.

Gopee, who was convicted of illegal money lending offences in February 2018, was sentenced to three and a half years in prison.

The FCA has begun confiscation proceedings against Gopee in order to recover the financial benefit he obtained from his criminality, and the regulator has said that money recovered under the confiscation order can be used to compensate any victims.

FCA executive director of enforcement and market oversight, Mark Steward, commented: “Mr Gopee preyed on vulnerable people for his own gains. He has now been jailed, and now we want to confiscate his criminal proceeds to compensate his victims.

“We have been in contact with victims already, but we know there are more out there. We ask anyone who borrowed from Mr Gopee to come forward so we can quantify relevant amounts and present the evidence to the court.”

The FCA has urged any individual who took out a loan with Gopee, or any of his companies, and who has not yet contacted the FCA, to do so by 15 November 2019.

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