Suspected loan sharks detained in Bacup

Suspected loan sharks detained in Bacup

Suspected loan sharks detained in Bacup

First published in North West

FOUR more suspected loan sharks have been detained in Bacup as part of ongoing operations into illegal money-lending.

Trading standards officers swooped on three addresses in the town following a joint operation between the England Illegal Money Lending Team and Lancashire investigators.

It was confirmed that suspects aged 30, 39, 40 and 53 were being questioned and an undisclosed amount of cash had been seized.

Investigators were expecting that the quartet would be released pending further enquiries. The loan shark operation is believed to have been running for a number of months.

The detentions are the latest in the area after former market trader Stephen Fossey was given a suspended prison sentence for running a bogus business across Burnley, Rossendale and Todmorden.

County councillor Janice Hanson, Lancashire’s public protection cabinet member, said: “Illegal money lending is an often hidden problem which has a terrible impact on our communities, leaving vulnerable people in financial difficulty.

"It is a crime and not something we will tolerate in Lancashire. We will continue to work closely with the Illegal Money Lending Team and local partners to combat this problem.”

Comments (2)

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7:18pm Tue 28 Jan 14

turbo5 says...

I bet these loan sharks are 1000% cheaper than the legal loan shark companies know as payday loans and logbook loans that manage to advertise on TV
I bet these loan sharks are 1000% cheaper than the legal loan shark companies know as payday loans and logbook loans that manage to advertise on TV turbo5
  • Score: 7

12:05am Wed 29 Jan 14

her from here says...

I'll bet their not it's been going on for years
I'll bet their not it's been going on for years her from here
  • Score: 0

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