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Suspected Sale loan shark remanded in custody
A SUSPECTED loan shark from Sale has been charged with illegal money lending and money laundering following an investigation by the England Illegal Money Lending Team.
The 44-year-old was arrested twice after the team, working in conjunction with Trafford Council and Greater Manchester Police (GMP), executed warrants at his home in June and July
Documentary evidence was taken from his home during the search.
A second suspect, a 49-year-old man also from Trafford, was released without charge.
The suspect has been remanded in custody and made his first appearance at Trafford Magistrates Court yesterday.
He will next appear at Manchester Minshull Street Crown Court on October 2.
The investigation is part of Operation Bank, a joint GMP and council initiative to coordinate action against individuals involved in serious and organised crime.
Councillor Jonathan Coupe, Trafford Council’s executive member for safe and strong communities, said: “We are committed to doing everything possible to eradicate loan sharks in Trafford.
“Trafford Council will continue to work closely with all its partners to ensure that those involved are brought to justice.”
Nationally the Illegal Money Lending Teams has secured 263 prosecutions for illegal money lending and related activity, leading to more than 167 years worth of custodial sentences.
It has written off £40.3 million worth of illegal debt and helped over 22,000 victims.
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