Loan team stands up to sharks
Sep 18 2008 by Andrew Hirst, Huddersfield Daily Examiner
The men poached clients from the old company and charged interest rates of more than 1,068% APR. They often asked for the first repayment at the time the loan was given.
Loan sharks are being targeted nationally after pilot projects in Birmingham and Glasgow shut down loan books worth more than £7m, helped more than 6,000 victims, seized and confiscated £260,000 in cash and secured successful prosecutions which have resulted in sentences totalling more than 33 years for illegal money lending and related criminal activity including assault, wounding, kidnapping, blackmail and possession of firearms.
Anyone with information about loan sharks can be contacted in confidence 24 hours a day on 0300 555 2222.
