Loan shark Paul Gilpin warned he could go to prison
A 28-year-old man who admitted running an unlicensed loan firm for seven years has been warned he could be jailed.
Paul Gilpin, of Thorny Road, Egremont, Cumbria, admitted running a consumer credit business without a licence.
Appearing at Carlisle Crown Court, he also admitted possessing an unspecified amount of cash from repayments and interest charges between 2003 and 2010.
Judge Kevin Grice warned him he could be sent to prison and granted him unconditional bail until 25 November.