Loan shark warning after arrest in Hull
A MAN has been arrested on suspicion of illegal money lending, following an operation in Hull this morning.
The suspect, 39, is currently in custody assisting police officers with their enquiries.
The England Illegal Money Lending Team working in partnership with Hull City Council Trading Standards executed a warrant at a residential property seizing cash and documentation.
Councillor John Hewitt, Hull City Council's Portfolio Holder for Neighbourhoods and Communities, said: "By working in partnership with the England Illegal Money Lending Team we have supported a successful action.
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"We would urge people not to borrow from a loan shark and if you are aware of loan sharks operating in your area, please report them.
"You may only be borrowing a couple of hundred pounds to 'tide you over' but in the end it may cost you thousands to pay back having not been fully aware of the high interest rates that may make it difficult to pay back."
To report a loan shark, call the 24/7 confidential hotline on 0300 555 2222.