Loan shark billionaire James Benamor paints himself as a friend of the poor
moncler sale To troubled kids he met in Manchester’s notorious Moss Side, ‘James’ was a thirtysomething youth worker making a TV documentary about their moncler outlet store crime ridden lives. moncler sale
Scruffy and somewhat shy, he spent a week driving a battered Nissan Micra around the local streets, meeting victims of drug addiction, gang violence and other social problems facing this under privileged cheap moncler outlet community.
cheap moncler jackets sale What the TV producers had not told the Mancunians was that James was, in fact, a buy moncler jackets wealthy businessman from Bournemouth who’d agreed to appear in the Channel 4 show The Secret Millionaire. cheap moncler jackets sale
cheap moncler jackets At the end of the programme, he revealed his true identity, adding that his real car was a bright yellow Lotus convertible, and proudly declaring: ‘For the past decade, I’ve been running my own very successful finance company.’ cheap moncler jackets
moncler sale outlet Pictured: The scruffy and somewhat shy businessman onSecret Millionaire moncler sale outlet
Then, in keeping with the syrupy TV format, James Benamor to use his full name signed a series of big cheques for local charities and youth projects.
cheap moncler outlet Today, the flash 41 year old entrepreneur is no longer a mere millionaire. And there’s nothing very secret about him, either. cheap moncler outlet
In fact, Benamor recently became Britain’s most newly minted billionaire.
moncler outlet This is the result of his successful finance company, a household name, being floated on the stock market at a price that left him with an estimated fortune of 1.1 billion. moncler outlet
moncler outlet sale The windfall fuels an ultra glamorous existence that has, in recent years, been chronicled via Facebook, Instagram and Twitter accounts showcasing endless exotic holidays and moncler outlet extravagant moncler sale family outings. moncler outlet sale
moncler jackets outlet Benamor’s highly successful ‘finance company’, Amigo Loans, is one of the most controversial, and (some say) ruthless loan companies in Britain. Founded in 2005, it controls roughly 88% of the UK market for so called ‘guarantor loans’ a high interest form of lending aimed at people who are unable, usually due moncler sale outlet to a chequered financial history, to borrow cash via conventional means moncler jackets outlet
A father of eight, he lives with Marina Goland (the American mother of his youngest three kids) in a six bedroom mansion down a tree lined, 100 yard drive in an exclusive neighbourhood of the Dorset seaside town.
When he bought the property, for just over 2 million in 2013, the 7,000 sq ft ‘substantial residence of immense charm and character’ came with a new 55ft kitchen, plus planning permission for a pool, gym, games room, sauna and home cinema.
cheap moncler coats It’s conveniently located just a mile from his previous home, which is occupied by Catriona Patterson, the 49 year old mother of his five elder children who was company secretary to several of his firms when they were together in the early Noughties. cheap moncler coats
Like many a self made man, he owes this enviable lifestyle to https://www.cheapmoncler.com a mixture of luck, monlcer down jackets hard work and old fashioned cunning.
moncler jacket sale Born Rachid James Benamor and educated at Poole Grammar School, the son of Tunisian immigrants claims to have been an unruly teenager who ‘was taking a lot of drugs, became a petty criminal really’. moncler jacket sale
moncler outlet jackets ‘I was a nightmare,’ he told viewers of The Secret Millionaire. ‘I was a nightmare for my parents. I was a nightmare for anyone that knew me. There were several occasions cheap moncler coats where moncler outlet sale I could have ended up in prison.’ moncler outlet jackets
moncler outlet online The business career he began in the late Nineties would, of course, set things on a different path. moncler outlet online
Labour MP Stella Creasy (above) has long campaigned against the excesses of the credit industry. She has called Amigo ‘legal loan sharks’, saying the company ‘needs to be cracked down on by the regulators’
These days, Benamor cultivates a man of the people image, using social media to trumpet charitable exploits that include climbing Mount Kilimanjaro and funding schools in Africa, as well as his occasional ventures into the boxing ring.
He also launches occasional attacks on Theresa May, asking followers during the last General Election: ‘Is anyone going to admit that they are voting Tory?’ (He’s declared himself a Lib Dem supporter).
cheap moncler Yet behind this trendy facade lies a profoundly disturbing fact, which is that his highly successful ‘finance company’, Amigo Loans, is one of the most controversial, and (some say) ruthless loan companies in Britain. cheap moncler
Founded in 2005, it controls roughly 88 per cent of the UK market for so called ‘guarantor loans’, a high interest form of lending aimed at people who are unable, usually due cheap moncler jackets to a chequered financial history, to borrow cash via conventional means.
Under a ‘guarantor’ agreement, these high risk customers (who, according moncler outlet to Amigo’s website, can be former bankrupts and are not even required to have jobs) must find a friend or relative moncler mens jackets prepared to ‘guarantee’ their cheap moncler sale debt by becoming liable for any failure to repay it.
moncler outlet store They can then borrow between 500 and 10,000 over a period of 12 to 60 months. During that time, Amigo charges an interest rate of 49.9 per cent. According to Amigo’s website, this means that a customer who takes out a 5,000 loan, for example, will, over five years, repay 11,857.20. moncler outlet store
Benamor cultivates a man of the people image, using social media to trumpet charitable exploits that include climbing Mount Kilimanjaro and funding schools in Africa, as well as his occasional ventures into the boxing ring
Should they fall behind with repayments, their ‘guarantor’ will be pursued cheap moncler and, if necessary, dragged through the courts.
It is a very profitable enterprise. Last year, Amigo which has a subsidiary in the tax haven of Luxembourg declared profits of 72 million.
moncler outlet uk Its accounts show that it employs around 300 people, has outstanding loans worth a total of 647 million to 180,000 Britons, and makes on average 400 each year from each of its (often impoverished) clients. For some, the company obviously provides a positive service: extending credit to those excluded by other, more conventional, providers and helping people with poor credit ratings build a credit history moncler outlet uk.