A man has been arrested for illegal money lending, money laundering and blackmail of a vulnerable shop owner after police swooped on a residential address in Great Yarmouth.
The 44-year-old male was arrested after Norfolk Police carried out a warrant at the address on Tuesday morning.
The operation was a multi-agency effort, with the help of the National Illegal Money Lending Team (IMLT) and Norfolk County Council Trading Standards.
A spokesman for the IMLT said documents and electronic devices had been seized at the scene.
Tony Quigley, Head of the Illegal Money Lending Team, said: 'We are committed to working with our council and police partners to tackle the blight of loan sharking in our communities.
'Illegal money lenders are unscrupulous criminals who prey on the vulnerable, charging exorbitant rates of interest and using fear and intimidation to recover monies 'owed'.
'We urge anyone suffering at the hands of loan sharks to contact us in confidence on 0300 555 2222 or report at www.stoploansharks.co.uk.'
Cllr Margaret Dewsbury, Chairman of Norfolk County Council's Communities Committee, said she hoped the arrest would deter would-be loan sharks.
'I hope the good result today will send a clear message that loan sharks will not be tolerated in our communities.
'I would urge people to avoid using an illegal money lender – it may seem at first that they are offering a service as a friend but these criminals should always be avoided at all costs.
'A safe and legal alternative to using a loan shark is to sign up with your nearest credit union, which can be found by visiting www.abcul.org'
To report a loan shark, call the 24/7 confidential hotline 0300 555 2222. Text a report to 078600 22116 or visit the website www.stoploansharks.co.uk
You can also email reportaloanshark@stoploansharks.gov.uk or private message us on www.facebook.com/stoploansharksproject
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