Exeter man charged with illegal money lending activities

A 60-year-old man from Exeter has been charged with illegal money lending and money laundering offences.

It follows an investigation by the England Illegal Money Lending Team (IMLT) working in partnership with Devon, Somerset and Torbay Trading Standards and Devon and Cornwall Police.

The suspect was arrested after a warrant was executed at his home yesterday (8 January) and documentation and electronic devices were recovered.

The case is due before Exeter Magistrates’ Court on Friday, 14 February.

Nationally, Illegal Money Lending Teams have secured more than 394 prosecutions for illegal money lending and related activity, leading to nearly 480 years’ worth of custodial sentences. They have written off £74.9 million worth of illegal debt and helped over 29,000 people.

To report a loan shark, call the 24/7 confidential hotline on 0300 555 2222, text a report to 078600 22116 or complete an online form here.