Stalybridge man arrested on suspicion of being a loan shark
A 24-year-old man was arrested on suspicion of illegal money lending following an early morning operation in Stalybridge today.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from Greater Manchester Police to execute a warrant this morning (WED AUG 21, 2024). Three addresses were searched as part of the operation.
Officers seized an electronic device and the suspect was taken into custody to be questioned by IMLT investigators.
The IMLT works in partnership with Tameside Trading Standards service to investigate and prosecute illegal money lenders.
Dave Benbow, acting head of the IMLT, said: “We work with our partners across England to investigate reports of illegal lending and take action against those who blight our communities.
“If you think you have borrowed from an illegal lender or have any knowledge about illegal lending going on in your local area, then get in touch with our team in complete confidence and we can help.”
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.
