Suspected loan sharks arrested in Leeds

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Two people were arrested on suspicion of illegal money lending and money laundering offenses following an operation in Leeds.

England’s Illegal Money Lending Team (IMLT) working in partnership with the West Yorkshire Trading Standards Service and West Yorkshire Police yesterday executed a warrant at an address in the town’s Burmantofts district. (November 10)

Officers seized money, documents and electronics during a search of the property.

The suspects – a 54-year-old woman and a 56-year-old man – have been taken into custody for questioning and have now been released under investigation pending further investigation.

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Tony Quigley, Illegal Money Lending Team Leader, said: “We are committed to warning residents of the dangers of loan sharks, and we will work with partners to take action against them.

“Loan sharks are criminals who prey on the most vulnerable people in our communities. They trap their victims in a debt spiral and often resort to intimidation and violence. “

He added: “We will not tolerate these activities in Leeds and urge anyone with information on loan sharks to report them as soon as possible. “

Residents of Leeds are urged to look for warning signs of loan sharks as Christmas approaches.

* They give little or no paperwork.

* Avoid saying the interest rate or how much is still owed.

* Add random fees or keep increasing the amount.

* Take collateral, such as passports, bank cards or driver’s licenses.

* Refuse to allow yourself to settle your debt.

* Use of intimidation, threats or violence.

* Anyone with concerns about loan sharks can contact the 24 hour Stop Loan Sharks hotline on 0300 555 2222 or access the online support at: stoploansharks.co.uk.

Live chat is available on the website between 9 a.m. and 5 p.m., Monday through Friday.

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