A Brighton man who was arrested on suspicion of being a loan shark during a raid in the early hours of Thursday morning (1 October) has been released on bail pending further inquiries.
The 43-year-old was questioned by the England Illegal Money Lending Team (IMLT) after an operation in the Elm Grove area of Brighton.
IMLT officers, helped by Sussex Police and Brighton and Hove City Council’s trading standards team, also seized electronic devices during the raid.
On Thursday, Dave Benbow, the head of the IMLT, said: “Today’s action forms part of our continued efforts to investigate reports of illegal money lending and protect communities from the harm it causes.
“Working closely with our partners, we will continue to take robust action against illegal lenders who profit from intimidation, fear and exploitation.
“Illegal lenders often take advantage of people who are struggling financially.
“Warning signs can include being threatened when you cannot make repayments, having your bank card held as security or finding that your debt continues to grow despite making regular payments.
“If you have experienced any of these or if you have information about illegal lending activity anywhere in the country, I urge you to contact our team in complete confidence.
“One call could help protect you, your family, or someone in your community from further harm.”
According to figures from the Centre for Social Justice (CSJ), there are up to 1.7 million people in debt to loan sharks in England.
The Stop Loan Sharks 24/7 helpline is 0300 555 2222. Support is also available online at www.stoploansharks.co.uk, which has a live chat, or via WhatsApp on 07700 102773.
