Suspected loan shark arrested in Telford
A man suspected of illegal money lending has been arrested following a swoop at a property in Telford.
Large amounts of cash, documents and electronic devices were seized when the 54-year-old was arrested at a house, in Madeley, on Wednesday.
Enforcement officers armed with a warrant visited the residential property before carrying out a search.
The man was taken into custody following the operation by the England Illegal Money Lending Team in partnership with Telford & Wrekin Council Trading Standards and West Mercia Police.
Head of the Illegal Money Lending Team,Tony Quigley said: "Loan sharks are unscrupulous criminals who prey on vulnerable people. This type of activity will not be tolerated in Shropshire and we will continue to work with our partners to take robust action against illegal money lenders.
“I urge anyone who is suffering at the hands of loan sharks to contact the team in confidence on 0300 555 2222.”
Telford & Wrekin Council’s enforcement boss Councillor Richard Overton said: “Our priority is to care for and protect our residents. We work hard with agencies including the England Illegal Money Lending team to ensure the public we serve is not exposed to these crimes.”
The man has since been released and is currently under investigation pending further inquiries.
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