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Raid team targets city loan shark

Nov 22 2009 Sunday Sun

“This operation should act as a warning to loan sharks that we will target them and take action to put them out of business.”

The North East Illegal Money Lending team was set up by the Government to crack down on money-grabbing loan sharks operating across the region.

It has more than 80 investigations underway into loan sharks and the total value of the loans being looked into is £340,000.

Reacting to the latest operation, carried out in partnership with police, Councillor Anita Lower, executive member for regulation, said: “Operations like this in the city should be welcomed.

“That is especially the case in the run-up to Christmas, when people will feel under pressure to borrow money but might not realise the situation they will find themselves in if they use a loan shark.”

In February, six suspected loan sharks were arrested and £10,000 in cash seized following raids by police on three homes in Hartlepool, Teesside.

Officers from Hartlepool Police and the North East Laundering Team swooped on a house in Catcote Road and two others in Seaton Lane.

Anyone with information about loan sharks should call 0300-555 2222.

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