Suspected loan shark arrested in Goole

A 58-year-old man has been arrested on suspicion of illegal money lending and money laundering following an operation in Goole, East Riding of Yorkshire.

The England Illegal Money Lending Team (IMLT) working in partnership with East Riding of Yorkshire Council trading standards and Humberside Police executed a warrant at an address in Howden this morning, Wednesday (May 5).

Officers seized a large quantity of documentation and electronic devices during a search of the property.

The suspect remains in police custody where he is due to be questioned.

Tony Quigley, Head of the Illegal Money Lending Team said: “Loan sharks bring great misery to communities across the country. They prey on vulnerable people and use callous enforcement methods to get their money back. This sort of behaviour will not be tolerated in Yorkshire and we will continue to work with our council and police partners to stamp out illegal money lending.

“We urge anyone who has been the victim of a loan shark to contact us in confidence on 0300 555 2222 or use Live Chat on our website. We have helped over 30,000 people of this crime and our specially trained staff can provide immediate support.”

Residents are being advised to watch out for warning signs of loan sharks and report them if they are approached by one. A loan shark may:

  • Give little or no paperwork.
  • Avoid telling the interest rate or how much is still owed.
  • Add random charges or keep increasing the amount.
  • Take items as security, such as passports, bank cards or driving licences.
  • Pretend to be your friend, especially at first.
  • Refuse to allow you to settle your debt
  • Resort to intimidation, threats or violence.

Confidential help and further information for victims of loan sharks is available from the Illegal Money Lending Team, 24 hours a day, seven days a week on the helpline number 0300 555 2222 or at www.stoploansharks.co.uk. Live Chat is available on the website between 9am and 5pm, Monday to Friday.