Suspected loan shark arrested in Telford
A suspected loan shark has been arrested after an operation in Telford.
The 40-year-old man was arrested at a home in the town this morning, where West Mercia Police also seized documentation and electronic devices.
The suspect is currently in custody and is being questioned by officers from the England Illegal Money Lending Team.
It follows work by the IMLT, Telford & Wrekin Council and the police.
Councillor Richard Overton, Telford & Wrekin Council’s cabinet member for enforcement, said: “We have worked closely with the England Illegal Money Lending Team ahead of this arrest. Our priority is to ensure our residents are protected and not exposed to these crimes.”
Tony Quigley, head of the England Illegal Money Lending Team, said: “We will continue to work with local authorities and the police to combat loan sharks. These criminals cause untold misery amongst our local communities."
Those that have been issued a loan with no paperwork or have received threats over a loan that has already been paid off should call 0300 555 2222.
Nationally, Illegal Money Lending Teams have secured more than 380 prosecutions for illegal money lending and related activity, leading to nearly 328 years’ worth of custodial sentences.
They have written off £72.5 million worth of illegal debt and helped over 27,000 people.
