Suspected Redbridge loan sharks shut down after police raid

Suspected Redbridge loan sharks have been shut down after being found with £175,000 on their books.

Redbridge Police and Trading Standards’ Illegal Money Lending Team seized documentation at a raid on an Ilford home on November 19.

A 55-year-old man and 54-year-old woman were arrested and released on bail until March while enquiries continue.

The Illegal Money Lending Team has secured 293 prosecutions for illegal activity, leading to more than 176 years worth of prison sentences.

The watchdog would not identify the business under investigation or where it was based.

To report loan sharks to investigators, call the confidential helpline on 0300 555 2222 or text “loan shark” and a message to 60003.

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