Arrest is made in anti-loan shark probe

Vehicle crime spree hits Hayling Island

0
Have your say

A 69-YEAR-OLD suspected loan shark was arrested following a raid at his home.

About six officers from the trading standards’ south east illegal money lending team searched the suspect’s home – a flat in the Buckland area of Portsmouth – at about 7.30am yesterday.

Working with Portsmouth City Council they executed a search warrant under the Consumer Credit Act and seized documents.

The suspect was arrested.

He is alleged to have illegally lent money to workers at a care home in the Southsea area over a 10-year period.

Last night he was still being held in police custody.

A spokeswoman for the trading standards illegal money lending team said: ‘Officers found some documentation which would suggest he has been lending money illegally.

‘We were tipped off about him. A team went in on Wednesday morning. He was arrested at his home.’

Illegal money lending teams have secured over 180 prosecutions for illegal money lending and related activity nationally, leading to 107 years’ worth of custodial sentences.