Officers from the Wales Illegal Money Lending Unit have arrested a 48 year old man in Abertridwr, Caerphilly on suspicion of illegal money lending.
The arrest follows an investigation by the Wales Illegal Money Lending Unit in partnership with Gwent Police.
This is one of many cases the unit are currently working on.
The man has been operating as a loan shark in Caerphilly and has been released on bail pending further enquiries.
Councillor Rob Gough, Caerphilly Council Cabinet Member for Public Protection, said: “People in Caerphilly and throughout Wales, who have engaged with a Loan shark, need to be aware that the Wales Illegal Money Lending Unit is demonstrating success in tackling loan -sharks and helping victims. Loan sharks are illegal and any money owed to them does not have to be repaid.”
Steven Hay, spokesman for the Wales Illegal Money Lending Unit, said: “Loan sharks are causing misery and despair across Wales. The Wales Illegal Money lending Unit will take positive action against loan sharks whilst supporting people who are caught up with them.
“Anyone who has borrowed money from an illegal money lender (loan shark) or knows of one operating in Wales should call 0300 123 3311 in confidence, e-mail [email protected] or text 60003.”
