Actor Michael Sheen has bought £1 million ($1.3 million) of his neighbors’ debts and written them off using £100,000 ($129,000) of his own money.
Sheen, best known for his roles in “The Queen,” “Frost/Nixon,” “Masters of Sex” and “Good Omens,” first embarked on his “debt heist” two years ago, with the twin aims of helping 900 people in his native South Wales and spotlighting the perils of a debt industry that demands sky-high interest rates on short-term loans.
His efforts will be detailed in a documentary titled “Michael Sheen’s One Million Pound Giveaway,” to be broadcast on British TV station Channel 4 later Monday. In the documentary, he explains the complex financial structures of the debt industry that allowed him to buy debt worth 10 times the value of his own money.
Source : CNN
