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Suspected loan shark arrested in South Liverpool

A 64-year-old man was arrested on suspicion of illegal money lending and money laundering offences, following an operation in South Liverpool.

The England Illegal Money Lending Team (IMLT) working in partnership with Liverpool Trading Standards Service and Merseyside Police executed warrants at an address on July 6.

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

The suspect was interviewed and later released under investigation while enquiries continue.

Tony Quigley, Head of the Illegal Money Lending Team, said: “Loan sharks are notorious for preying on vulnerable people in financial hardship. This criminal behaviour will not be tolerated in Liverpool and we will continue to work with our partners to eradicate illegal money lenders in communities.

“We urge victims of loan sharks to contact us in confidence on 0300 555 2222 and help us bring these unscrupulous lenders to justice.”

Nationally, Illegal Money Lending Teams have secured more than 400 prosecutions for illegal money lending and related activity, leading to 586 years’ worth of custodial sentences. They have written off £83 million worth of illegal debt and helped over 30,000 people.

To report a loan shark and access specialist support, call the 24/7 confidential helpline on 0300 555 2222, email reportaloanshark@stoploansharks.gov.uk or complete an online form at www.stoploansharks.co.uk.