Illegal Money lending/ laundering

A 56-year-old man was arrested Wednesday, 24 May on suspicion of illegal money lending and money laundering, following an operation in Wilmslow.
The England Illegal Money Lending Team (IMLT), working in partnership with Cheshire East Council's trading standards department and Cheshire police, executed a warrant at a home address in Wilmslow, seizing documentation and electronic devices.
The suspect is currently in custody and is being questioned by officers from the IMLT.
Tony Quigley, head of service for the National Illegal Money Lending Team, said: "We will continue to work with local authorities and the police to combat loan sharks. These criminals cause untold misery amongst our local communities.
"If you've been issued a loan with no paperwork or are receiving threats over a loan you have already paid off, please get in touch with the IMLT on 0300 555 2222.
"Your call will be handled by a trained IMLT officer and all information will be treated in the strictest confidence. If you don't like speaking on the phone, you can now report a loan shark online www.stoploansharks.uk"
Councillor Paul Bates, Cheshire East Council cabinet member for finance and communities, said: "Illegal money lending is a serious offence and can cause real misery for people and their families already facing financial pressures.
"While there is no suggestion it was the case here, illegal money lending is often followed up by violence and intimidation when borrowers struggle to meet the very high interest rates these loan sharks demand.
"We at Cheshire East Council are committed to working alongside the England Illegal Money Lending Team, applying enforcement action wherever we can to identify and arrest offenders and bring them to justice."
Nationally, illegal money lending teams have secured more than 378 prosecutions for illegal money lending and related activity, leading to nearly 325 years' worth of custodial sentences. They have written off £71.9m of illegal debt and helped more than 26,500 people.
To report a loan shark:
Call the 24/7 confidential hotline 0300 555 2222 or text a report to 078600 22116;
Visit the website www.stoploansharks.co.uk;
E-mail: reportaloanshark@stoploansharks.gov.uk or Private message on www.facebook.com/stoploansharksproject

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