‘Loan shark’ arrested after raid on Liverpool house

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Yesterday a suspected loan shark was arrested during a morning raid in Liverpool.

Police arrested the man after raiding property in Fazakerley on Tuesday October 26.

The 35-year-old has been arrested by the England Illegal Money Lending Team (IMLT) working in partnership with the Liverpool City Council Business Standards Team and Merseyside Police.

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He was arrested on suspicion of illegal money lending and money laundering offenses.

Officers also seized documents and electronic devices during a search of the property.

The suspect remains in custody for questioning.

Tony Quigley, Head of the Illegal Money Lending Team, said: “Loan sharks are greed-driven criminals, they prey on vulnerable people and often make threats and use violence to enforce. payments.

“We will not tolerate this type of behavior and we are committed to working with our partners to eliminate loan sharks from the communities.

“I urge anyone who thinks they are a victim to call our national helpline or access support through the live chat on our website.”

Residents are advised to watch out for the warning signs of loan sharks and report them if they are approached by one.

A loan shark may give little or no paperwork, avoid saying the interest rate, take collateral, or refuse to allow you to pay off your debt.

The IMLT recently launched an interactive film with Perception Theater, based in Liverpool, warning young people about the dangers of loan sharks online.

Anyone with concerns about loan sharks can contact the 24 hour Stop Loan Sharks hotline on 0300 555 2222 or access online support at www.stoploansharks.co.uk.

Live chat is available on the website between 9 a.m. and 5 p.m., Monday through Friday.

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