Suspected loan shark arrested in Surrey

A 38 year-old man was arrested this morning (6 March 2018) on suspicion of illegal money lending and money laundering, following an operation in Surrey.

The Illegal Money Lending Team (IMLT) working in partnership with Buckinghamshire and Surrey Trading Standards and Surrey Police executed a warrant at a residential address in West Molesey, seizing documentation, electronic devices and a quantity of cash.

The suspect is currently in custody and is being questioned by officers from the IMLT.

Tony Quigley, Head of the Illegal Money Lending Team, said:

“Loan sharks prey on some of the most vulnerable members in our society and so it’s vitally important we work with key organisations to combat illegal money lending and protect residents.

“Today’s operation sends out a clear message to all those involved in this type of criminal activity that we will not tolerate loan sharks in Surrey. We urge residents who have fallen victim to this crime to contact us in confidence on 0300 555 2222 and help us bring these unscrupulous lenders to justice.”

Denise Turner-Stewart, Surrey County Council’s Cabinet Member for Communities, said:

“Loan sharks spell misery for borrowers, often targeting people at times in their lives when they’re particularly vulnerable, and our Trading Standards Service is pleased to support the work of the Illegal Money Lending Team in cracking down on these ruthless criminals.”

Nationally, Illegal Money Lending Teams have secured more than 382 prosecutions for illegal money lending and related activity, leading to nearly 329 years’ worth of custodial sentences. They have written off £73.7 million worth of illegal debt and helped over 28,000 people.

To report a loan shark:

Call the 24/7 confidential hotline 0300 555 2222

Text a report to 078600 22116

Visit the website


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