man arrested in illegal money laundering probe
64 year-old Burnham-On-Sea man was arrested on Wednesday (January
18th) on suspicion of illegal money lending and money laundering
following an operation in the town.
The England Illegal Money Lending Team (IMLT), working in partnership
with Devon and Somerset Trading Standards and Avon and Somerset
Constabulary, executed a warrant at the suspect's home address.
seized documentation, a quantity of cash and electronic devices
during the swoop.
Police say the suspect is currently in custody and is being questioned
by IMLT officers.
Quigley, Head of Service for the National Illegal Money Lending
Team, told Burnham-On-Sea.com: "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
Councillor David Hall, Somerset County Councils Deputy Leader
with a responsibility for Trading Standards, told Burnham-On-Sea.com:
"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."
Nationally, Illegal Money Lending Teams have secured more than 368
prosecutions for illegal money lending and related activity, leading
to nearly 318 years worth of custodial sentences.
have written off £71.75 million worth of illegal debt and
helped over 26,000 people.
To report a loan shark, call the 24/7 confidential hotline on 0300
555 2222, Text a report to 078600 22116, or e-mail firstname.lastname@example.org.