Man arrested on suspicion of illegal money lending and money laundering following operation in Telford

The England Illegal Money Lending Team (IMLT) teamed up with Telford and Wrekin trading standards and West Mercia Police to execute a warrant at an address in Woodside today.

Officers seized digital storage devices during a search of the property.

The suspect remains in police custody where he is being questioned.

Tony Quigley, head of the IMLT, has warned about the dangers of loan sharks.

He said: “It’s disgraceful that opportunistic loan sharks are taking advantage of people’s financial worries and concerns during the coronavirus pandemic.

“Despite the current lockdown, we will continue working with partners and communities, safeguarding the vulnerable and tackling illegal money lending.

“Our advice to residents in need of financial support would be to turn to their local credit union rather than a loan shark, who could take advantage and charge exorbitant interest rates.”

Community groups across Shropshire can now apply for funding for projects that contribute to raising awareness of the dangers of loan sharks.

For more information visit www.stoploansharks.co.uk/news

To report a loan shark, call the 24/7 confidential helpline on 0300 555 2222, email reportaloanshark@stoploansharks.gov.uk or complete an online form at

www.stoploansharks.co.uk