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Suspected loan sharks arrested in Sheffield

A 61 year-old man and 64 year-old woman were arrested this morning (8 November 2017) on suspicion of illegal money lending and money laundering, following an operation in Fulwood, Sheffield.

The England Illegal Money Lending Team (IMLT) working in partnership with Sheffield City Council Trading Standards and South Yorkshire Police executed a warrant at a residential address, seizing documentation and electronic and storage devices.

The suspects are currently in custody and are being questioned by officers from the IMLT.

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

“We will continue to work with local authorities and the police to combat loan sharks. These criminals cause untold misery amongst our local communities.

“If you’ve been issued a loan with no paperwork or are receiving threats over a loan you have already paid off, please get in touch on 0300 555 2222. Your call will be handled by a trained officer and all information will be treated in the strictest confidence.”

Ian Ashmore, Head of Environmental Regulation at Sheffield City Council, said:

“Illegal money lenders prey on the vulnerable within our communities, with victims faced with spiralling debt, extortionate interest rates and the very real threat of intimidation. We will continue to work with the Illegal Money Lending Team to crack down on this crime.”

Nationally, Illegal Money Lending Teams have secured more than 380 prosecutions for illegal money lending and related activity, leading to nearly 328 years’ worth of custodial sentences. They have written off £72.5 million worth of illegal debt and helped over 27,000 people.

To report a loan shark:

Call the 24/7 confidential hotline 0300 555 2222

Text a report to 078600 22116

Visit the website www.stoploansharks.co.uk

E-mail reportaloanshark@stoploansharks.gov.uk  

Private message us on www.facebook.com/stoploansharksproject