A man was arrested early today on suspicion of illegal money lending following an operation in Sunderland.
The England Illegal Money Lending Team (IMLT) worked in partnership with officers from Northumbria Police to execute a warrant at an address in the Grindon area.
Officers seized electronic devices and the suspect, aged 43, was taken into custody to be questioned by IMLT investigators. He was later released on bail pending further inquiries.
The IMLT works in partnership with Sunderland Council Trading Standards Service to investigate and prosecute illegal money lenders.
Dave Benbow, acting head of the IMLT, said: “Illegal lending is a blight on communities and often affects some of the most vulnerable people in communities.
“We work hard with our partners across England to investigate reports of illegal lending activities and disrupt these operations. If you have been offered a loan, been threatened when you couldn’t pay, or if what you owe keeps growing, then you may have been targeted by an illegal lender.
“If you, or anyone you know, has experienced any of these things, contact our team in complete 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).
The IMLT is a national organisation hosted by Birmingham City Council. It was created in 2004 and since then has supported over 32,000 people and written off over £91.3 million worth of illegal debt. It has secured over 427 prosecutions for illegal money lending, leading to over 609 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.
