King's Lynn man arrested on suspicion of illegal money lending and money laundering
PUBLISHED: 14:18 11 October 2016 | UPDATED: 15:00 11 October 2016
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A 53-year-old man from King's Lynn has been arrested this morning on suspicion of illegal money lending and money laundering.
Working in partnership with Norfolk County Council trading standards and Norfolk Constabulary, the England Illegal Money Lending Team executed a warrant at an address and seized electronic devices.
The suspect is in custody and being questioned by officers from the team.
Brian Chatten, community safety and fair trading manager at Norfolk County Council trading standards said: “Trading standards supports and works with our partners the England Illegal Money Lending Team, who do a great job in hunting down loan sharks and bringing them to justice.
“The service supported their launch of the Illegal Money Lending Charter in the town in March.
“This arrest shows how the team tracks down and takes effective action against unscrupulous loan sharks who perpetuate poverty and misery in disadvantaged people’s lives.”
Tony Quigley, head of service for the National Illegal Money Lending Team, said: “We will continue to work to combat loan sharks. They can cause untold misery to the most disadvantaged in our communities. We would urge anyone with information about loan sharking or victims of loan sharks to contact the team on 0300 555 2222.”
Nationally, Illegal Money Lending Teams have secured more than 351 prosecutions for illegal money lending and related activity, leading to nearly 296 years’ worth of custodial sentences. They have written off £63.5m worth of illegal debt and helped over 25,500 people.