Man arrested in Coventry on suspicion of being a loan shark
An early-morning operation in Coventry saw a 51-year-old man arrested on suspicion of illegal money lending today.
Officers from the England Illegal Money Lending Team (IMLT), working in partnership with West Midlands Police, executed a warrant at a property in the Bannerbrook Park area.
Officers seized an electronic device and the suspect was taken into custody to be questioned by IMLT investigators.
IMLT officers also executed a warrant at a food van near Thurlaston in connection with the investigation.
The IMLT works in partnership with Coventry Trading Standards Service to investigate and prosecute illegal money lenders.
Tony Quigley, head of the IMLT, said: “Illegal money lending will not be tolerated in England, and we will continue to work with our partners to take action against those who blight our communities in this way.
“If you or anyone you know has borrowed from an illegal lender or has any information about illegal lending activities, you can contact our team in confidence.”
There are up to 1.08 million people in debt to loan sharks in England, according to figures from the Centre for Social Justice (CSJ).
This year marks the 20th anniversary of the IMLT. Since its launch, the team has supported over 31,700 people and written off over £91.3 million worth of illegal debt, securing over 420 prosecutions for illegal money lending, leading to over 600 years in jail.
Anyone who has been affected by illegal money lending should call the Stop Loan Sharks 24/7 Helpline on 0300 555 2222 or access support online at www.stoploansharks.co.uk. Live Chat is available on the website from 9am to 5pm, Monday to Friday.
