Birmingham man charged with illegal money lending

By on 06/08/2012 in News

A man from Birmingham has been charged with illegal money lending and money laundering following an investigation by the England Illegal Money Lending Team.

The suspected loan shark aged 56 was arrested after the team, who are hosted by Birmingham City Council executed a warrant at his home in Weoley Castle. During the search they seized documentary evidence.

He is due to make his first appearance before Birmingham Magistrates on Monday 3rd September 2012.

Councillor Barbara Dring, chairman of the public protection committee at Birmingham City Council, which oversees the England Illegal Money Lending Team, said: “Loan sharks are a scourge on our communities, causing nothing but misery and fear. As the England Illegal Money Lending Team continues to investigate and prosecute offenders, we are sending a clear message that this crime will not be tolerated. We would urge anyone who is involved with a loan shark to call us in confidence on 0300 555 2222. Lines are open 24/7”

Nationally the illegal money lending teams have secured over 212 prosecutions for illegal money lending and related activity, leading to 132 years worth of custodial sentences. They have written of almost £40 million worth of illegal debt and helped over 18,000 victims.

To report a loan shark:

Call the 24/7 confidential hotline 0300 555 2222
Text 'loan shark + your message' to 60003
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Note to editors: Funded by the Department of Business Innovation and Skills, the Stop Loan Sharks project consists of three Illegal money lending teams; England, Scotland and Wales. Working in partnership with local Trading Standards Authorities up and down the country, the England Team consists of specialist officers who investigate and prosecute illegal money lending and related activity and LIAISE officers who support victims and raise awareness of the dangers of borrowing from illegal money lenders. The project piloted in 2004, and expanded in 2007. So far the project has secured more than 212 prosecutions leading to custodial sentences in excess of 232 years.

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