A SUSPECTED loan shark has been arrested on suspicion of money laundering.

A 54-year-old was arrested today (Wednesday, 13 December) in Basingstoke, for illegal money lending and money laundering.

The operation, run by the England Illegal Money Lending Team (IMLT) working in partnership with Hampshire County Council Trading Standards and Hampshire Constabulary executed a warrant at a residential property, seizing documentation and electronic devices.

Tony Quigley, head of the England Illegal Money Lending Team, said: “We will continue to work with local authorities and the police to combat loan sharks. These criminals cause untold misery amongst our local communities.”

The man is currently in custody and is being questioned by IMLT officers.