A SIXTY four year-old-man was arrested this morning (Wednesday) on suspicion of illegal money lending and money laundering following an operation in Burnham-on-Sea.
The England Illegal Money Lending Team (IMLT), working in partnership with Devon and Somerset Trading Standards and Avon and Somerset Police, executed a warrant at the suspect’s home address, seizing documentation, a quantity of cash and electronic devices.
The suspect is currently in custody and is being questioned by IMLT officers.
Cllor David Hall, Somerset County Council’s deputy leader with responsibility for trading standards, said: “Devon and Somerset Trading Standards Service work closely with the England Illegal Money Lending Team to tackle the evil of loan sharks.
"Illegal Money Lenders often prey on the most vulnerable in society and those already in a spiral of debt.
"Action against the sharks can help people to break that spiral.”
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 0300-5552222.”
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