A Blackpool man has been arrested on suspicion of being a loan shark.
The 64-year-old was arrested during an operation in the seaside town earlier today (Wednesday, January 15). The operation involved the England Illegal Money Lending Team (IMLT) working in partnership with Lancashire Police.
A warrant was executed for an address in the Warbreck area and the man was arrested on suspicion of illegal money lending. Whilst executing the warrant, officers seized electronic devices, paperwork and cash.
The suspect was then taken into custody and questioned by IMLT investigators. They also work in partnership with Blackpool Council Trading Standards Service to investigate and prosecute illegal money lenders.
According to figures from the Centre for Social Justice (CSJ), around 1.08 million people are in debt to loan sharks across England.
Dave Benbow, acting head of the IMLT, said: “We will not tolerate illegal lending in England and we continue to work with our partners across the country to tackle this criminal activity. Illegal lenders often target those who are the most vulnerable and we want to protect these people by removing these predatory criminals from communities.
“If you think you, or anyone you know, might have borrowed from an illegal lender, then you can contact our team in complete confidence.”
Created in 2004, IMLT has supported over 32,000 people and written off over £91.3 million worth of illegal debt. They’ve also secured more than 427 prosecutions for illegal money lending, leading to over 609 years in jail.
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