Suspected loan shark arrested in Telford
A 40-year-old man was arrested in Telford this morning on suspicion of illegal money lending and money laundering.
The England Illegal Money Lending Team (IMLT) working in partnership with Telford & Wrekin Council Trading Standards and West Mercia Police executed a warrant at a residential address, seizing documentation and electronic devices.
The suspect is currently in custody and is being questioned by officers from the IMLT.
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.
“If you’ve been issued a loan with no paperwork or are receiving threats over a loan you have already paid off, please get in touch on 0300 555 2222. Your call will be handled by a trained officer and all information will be treated in the strictest confidence.”
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.”
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.
