Suspected loan sharks arrested following operation in Rochdale and Bury
Two men aged 40 and 42 have been arrested on suspicion of illegal money lending, following an operation in Rochdale and Bury this morning.
The England Illegal Money Lending Team working in partnership with Bury and Rochdale Metropolitan Borough Council’s executed warrants at two residential addresses.
The suspects are currently in custody assisting officers from the Team with their enquiries
Councilor John Smith, Cabinet Member for Corporate Affairs at Bury Metropolitan Borough Council, which includes responsibility for Community Safety, said: “Illegal money lending is a serious issue, which can have a big impact on people’s lives. It is important that the England Illegal Money Lending Team and other agencies work together to help combat this issue and keep our communities safe”.
Rochdale Council Leader Colin Lambert, said: “Our aim is to drive loan sharks out of our borough for good and our relationship with the illegal money lending team means we are moving closer to that goal every day. I would urge anybody who needs help to contact the illegal money lending team in confidence. I would also encourage anybody who is looking for financial support to contact the Manchester Credit Union, who have helped hundreds of people access low cost credit since they were brought into our borough.”
Nationally the Illegal Money Lending Teams have secured 222 prosecutions for illegal money lending and related activity, leading to more than 150 years worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 19,000 victims.
To report a loan shark:
For more information about this case contact Sarah-Jane Lynch, Illegal Money Lending Team communications officer, on 0121 693 1030 or 07881617119. To speak to the National Trading Standards Board with a more general enquiry please contact the Trading Standards Institute press office on 0845 6089430.
Notes to editors
The National Trading Standards Board (NTSB) represents all trading standards services across England and Wales. The Board was established by the Government to improve the enforcement of laws intended to tackle rogue traders operating both regionally and nationally who are causing harm to consumers and legitimate businesses. The NTSB issues grants and funds national and regional initiatives such as Scambusters, the Illegal Money Lending Teams, Safety at Ports and the National Trading Standards eCrime Centre.
Nationally, Illegal Money Lending Teams have secured 222 prosecutions for illegal money lending and related activity, leading to more than 150 years-worth of custodial sentences. They have written off almost £40 million worth of illegal debt and helped over 19,000 victims.
Funded by the NTSB, the Stop Loan Sharks Project consists of three Illegal money lending teams; England, Scotland and Wales. Hosted by Birmingham City Council and working in partnership with local Trading Standards Authorities up and down the country, the England Team consists of specialist officers who investigate and prosecute illegal money lending and related activity and LIAISE officers who support victims and raise awareness of the dangers of borrowing from illegal money lenders. The project piloted in 2004, and expanded in 2007.
DATE: 16 April 2013