Suspected loan shark arrested in Birmingham

By on 30/06/2011 in News

A 23 year old man has been arrested on suspicion of illegal money lending following an operation by the England Illegal Money Lending Team in Birmingham this morning.

The Team, who are hosted by Birmingham City Council executed warrants at two residential properties in Sutton Coldfield and Erdington, seizing documentation and a substantial amount of cash.

The suspect is currently in custody assisting officers from the Team with their enquiries.

Cllr Neil Eustace, Chair of the Public Protection Committee said “Illegal money lenders create misery and fear, and have a hugely detrimental impact on our communities. We are very proud of the England Illegal Money Lending Team, based in our City and their endeavours to bring loan sharks to justice. We would urge anyone who is a victim of a loan shark to speak to us in confidence on 0300 555 2222”

Nationally the Stop Loan Shark Project has secured over 190 prosecutions for illegal money lending and related activity, leading to 107 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 16,000 victims.

To report a loan shark:

Call the 24/7 confidential hotline 0300 555 2222
Text 'loan shark + your message' to 60003
E-mail reportaloanshark@stoploansharks.gov.uk
Log-on to www.direct.gov.uk/stoploansharks

 Ends

 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 190 prosecutions leading to custodial sentences in excess of 107 years.

Sarah-Jane Lynch - Communications Officer Illegal Money Lending Team - Trading Standards

Telephone: 0121 693 1030 or 07881617119 E-mail:  sarah-jayne.lynch@birmingham.gov.uk

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