Suspected loan shark arrested

Tuesday 20 November 2012 Updated: 21/11 12:21

A SUSPECTED loan shark has been arrested in Stratford on Avon.

A 55 year-old man was taken into custody on suspicion of illegal money lending, following an operation in the town on Monday (November 19).

The England Illegal Money Lending Team, working with Warwickshire Trading Standard,s executed a warrant at a residential property seizing cash. The suspect is currently in custody being questioned.

Warwickshire community protection spokesman Coun Richard Hobbs said: "Loan sharks prey on the most vulnerable people in our society and cause untold misery."

"I am delighted that the England Illegal Money Lending Team working in partnership with our own Trading Standards Service are continuing to take action to protect the people of Stratford upon Avon."

"We are sending out a clear message that loan sharks will not be tolerated in our county and we will take action against them."

Nationally the Illegal Money Lending Teams have secured 218 prosecutions for illegal money lending and related activity, leading to a total of 140 years custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 19,000 victims.

To report a loan shark call the 24/7 confidential hotline 0300 555 2222.

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