In a raid, a ‘loan shark’ was apprehended on suspicion of unlawful money lending and laundering.
After an early morning raid in Toxteth by a national illegal money lending hit team, a suspected loan shark was apprehended.
Officers detained the 64-year-old man after the warrant was served earlier this month.
During the search of the property, documents and electronic devices were taken.
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On suspicion of unlawful money lending and money laundering, the man was arrested.
He was granted bail and released.
“Loan sharks are renowned for preying on vulnerable people in financial hardship,” said Tony Quigley, Head of the Illegal Money Lending Team.
“This type of criminal behavior will not be accepted in Liverpool, and we will continue to work with our partners to eradicate illegal money lenders from the community.
“We urge victims of loan sharks to call us on 0300 555 2222 in confidence and assist us in bringing these unscrupulous lenders to justice.”
Across the country, illegal money lending teams have achieved over 400 prosecutions for illicit money lending and related behavior, resulting in 586 years in prison.
They have forgiven £83 million in illegal debt and assisted over 30,000 people.
Following the determined advocacy of a mother whose son died in the face of debts from a loan shark, the national illegal money lending enforcement team, located in Birmingham, rose to prominence in the north west.
Following the death of her 22-year-old son Brian Shields, Carol Highton spoke out several times.
The young footballer committed suicide at his house in Runcorn after succumbing to loan shark Paul Nicholson’s outrageous financial demands in order to fuel a cocaine habit.
Mrs Highton was a prominent member of a regional task group that saw results in Halton, as well as Merseyside and parts of Cheshire.
Call the 24/7 confidential helpline on 0300 555 2222, email [email protected], or fill out an online form at www.stoploansharks.co.uk to report a loan shark and get specialized advice.