Man arrested after an operation in Telford on suspicion of illicit money lending and money laundering
The England Illegal Money Lending Team (IMLT) teamed up with Telford and Wrekin Commercial Standards and West Mercia Police to execute an arrest warrant at a Woodside address today.
During a house search, the officers confiscated digital storage media.
The suspect remains in police custody where he is questioned.
Tony Quigley, head of the IMLT, has warned of the dangers of loan sharks.
He said: “It is a shame that opportunistic loan sharks are taking advantage of people’s financial worries and concerns during the coronavirus pandemic.
“Despite the current lockdown, we will continue to work with partners and communities to protect those in need and combat illegal lending.
“Our advice to residents in need of financial assistance would be to contact their local credit union rather than a loan shark who could take advantage of this and charge exorbitant interest rates.”
Community groups across Shropshire can now apply for funding for projects that help raise awareness of the dangers of loan sharks.
More information is available at www.stoploansharks.co.uk/news
To report a loan shark, call the 24/7 confidential hotline on 0300 555 2222, email [email protected], or fill out an online form at