Cash strapped women being forced to sleep with money lenders to pay off debts
| Feb 2nd 2015 | 2 min read
Ireland: Desperate young mums are being coerced into having sex with vicious money lending gangs to pay off crippling debts, it has been reported.
Several of the cash-strapped women are understood to have fallen victim to the seedy trap as they struggle to pay back rip-off interest rates on short-term loans, according to the Irish Mirror.
Sources have revealed that Irish Police have crushed a number of the gangs behind the sordid exploitation but it is believed there are over a dozen still plying their illicit trade in Waterford, a city in south east Ireland.
A source told the Irish Sunday Mirror: “There are at least six women who have been forced into this. It is very sneaky how it happens.
“The loan is taken out and they are told the interest rates have suddenly jumped.
“So this is when the trouble starts. The collectors begin following the women to the post office and take their child allowance or social welfare payments.
“I’ve spoken to some of these women and they are heartbroken. They are working class women just trying to survive. Now they’re trapped.”
As the interest rate continues to spiral, the targeted woman eventually turn to other ways of paying back their debt.
Initially, the ruthless lender tells the mothers they can pay off some of the cash by way of sexual favours.
Because the women have no social welfare income, they have no other option but to comply.
The source added: “The lenders say to these women they can repay the whole amount by prostituting themselves for a month. But the debt will rarely pay itself off.
“Unless these women can get their hands on a sizeable amount of money, usually around €5,000, to buy themselves out of it.”
The rise of the Waterford gangs has been well documented in the past five years.
Local activists and police have worked to stamp out the scourge of illegal money lending, drug abuse and prostitution.
Councillors have had threats made on their lives, as well as having their cars burned out.
The Criminal Assets Bureau is also investigating one of the gangs after secret bank accounts used to channel the cash were also discovered and are being investigated.
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