Five people in Brixham have been charged with illegal money lending.
Devon and Cornwall Police charged the group of suspected loan sharks following the execution of warrants at five Brixham addresses.
Upon execution of the warrant the police seized documentation, electronic devices and a quantity of cash.
The arrests were made on the 11th December 2018 by officers from the England Illegal Money Lending Team, working with Devon and Cornwall Police
As a result of the arrests five people have now been charged and two have been released under investigation pending further enquiries.
Tony Quigley, Head of the Illegal Money Lending Team said:
“Loan sharks are a blight on society and prey on vulnerable people who struggle to make ends meet.
This crime will not be tolerated in Devon and we will continue to work with our council and police partners to stamp out illegal money lending.
We urge anyone affected by loan sharks to contact us in confidence on 0300 555 2222. Our lines are open round-the-clock over the festive period and we will help you.”
The suspects who include, Jamie Grant, aged 41, and Mahli Binmore, aged 27, from Burton Street, Stuart Grant, aged 39, from Wishings Road and Ian Grant, aged 45, from Bolton Street have been charged with conspiracy to run an unlicensed money lending business
And Jamie Rowlatt, aged 41, from St Marys Hill has also been charged with illegal money lending and money laundering offences.
All suspects are due before Newton Abbot Magistrates on Wednesday 16th January 2019.
To report a loan shark call the 24/7 confidential hotline on 0300 555 2222, text a report to 078600 22116 or visit www.stoploansharks.co.uk