A 56-YEAR-OLD man has been arrested in Gornal on suspicion of illegal money lending and money laundering.

The England Illegal Money Lending Team (IMLT), working in partnership with Dudley Council’s Trading Standards Department and West Midlands Police executed a warrant at a residential address this morning (Tuesday, September 5), seizing documentation and electronic devices.

The suspect is currently in custody, 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."

Councillor Peter Miller, Dudley's cabinet member for health and wellbeing, added: “There are safer and more financially sound alternatives to loan sharks, which help people when they have financial issues rather than making things worse.

"Castle & Crystal Credit Union – an ethical, not for profit alternative to using a loan shark – have been helping people with their finances for more than 20 years.

"They have recently launched a new incentive in a number of areas to award savers with a £25 savings boost once they have saved for the required period. This incentive has been very well received by residents in Dudley."

For more information about the credit union, visit www.castleandcrystal.co.uk Anyone who has been issued a loan with no paperwork or are receiving threats over a loan they have already paid off, should call the IMLT's 24/7 confidential hotline on 0300 555 2222.