Doncaster man arrested on suspicion of being loan shark after town centre operation
A Doncaster man was arrested on suspicion of being a loan shark following an operation in the town centre.
The 23-year-old was held on suspicion of illegal money lending and money laundering offences.
Officers from the England Illegal Money Lending Team, Doncaster Council’s Trading Standards unit and South Yorkshire Police executed a warrant at a town centre property yesterday.
Officers seized paperwork and electronic devices during a search of the property.
The suspect was questioned and later released on bail.
Tony Quigley, head of the Illegal Money Lending Team, said: “We are committed to working in partnership with all support agencies, so together we can crackdown on those individuals who target the vulnerable in our communities.
“Our advice to residents in need of financial support would be to turn to a Credit Union rather than a loan shark who could take advantage and charge extortionate interest rates.”
Councillor Chris McGuinness, from Doncaster Council said: “Individuals who prey on people in difficult circumstances are most unwelcome in the area and we hope this serves as a stern warning to others.
“If you are the victim of a loan shark - or know someone who is - then please report it immediately."
Nationally, Illegal Money Lending Teams have secured more than 394 prosecutions for illegal money lending and related activity, leading to nearly 480 years’ worth of custodial sentences.
They have written off £74.9 million worth of illegal debt and helped over 29,000 people.
To report a loan shark, call the confidential helpline, which runs 24 hours a day, on 0300 555 2222, sent a text message to 078600 22116 or visit www.stoploansharks.co.uk.