A SUSPECTED loan shark has been arrested in Upper Gornal.
The arrest was made after documentation, electronic devices and cash were seized during a raid carried out by the England Illegal Money Lending Team yesterday (Wednesday).
A 61-year-old man, who was arrested on suspicion of illegal money lending and money laundering, has since been released under investigation pending further enquiries.
Tony Quigley, who heads up the Illegal Money Lending Team, said: “Loan sharks prey on some of the most vulnerable members in our society and so it’s vitally important we work with key organisations to combat illegal money lending and protect residents.
“This operation sends out a clear message to all those involved in this type of criminal activity that we will not tolerate loan sharks in the West Midlands."
Councillor Patrick Harley, leader of Dudley Council, added: “Loan sharks can have a horrific impact on our communities. Dudley Trading Standards fully supports the work of the IMLT to stamp out loan sharks in Dudley and has provided assistance to them with this operation.”
To report a loan shark, call the 24/7 confidential hotline on 0300 555 2222, text a report to 078600 22116, e-mail reportaloanshark@stoploansharks.gov.uk or visit www.stoploansharks.co.uk.
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