Loan shark hooked

A new team of loan shark hunters backed by the government have caught their first victim, it has been revealed.

Mark Johnson, who was known as Arnie, has been jailed for three years and nine months after creating an £800,000 empire, founded on intimidating people out of large amounts of money.

He arranged loans for his customers, but charged them excessively high rates of interest ? sometimes as much as 8,000 per cent ? if they missed payments and incurred penalties.

Mr Johnson also threatened those who could not pay with violence unless he received the large sums demanded, intimidating consumers unable to pay the money.

However, he was arrested in a dawn raid by Trading Standards Officers in Birmingham after a tip-off, and has now admitted various charges, including blackmail and illegal money lending.

The case highlights the danger faced by consumers who risk taking out loans with illegal loan sharks, and consumer minister Gerry Sutcliffe welcomed the news of Mr Johnson's prison sentence.

He commented: "This should send out a clear message that we will take action against people who think they are above the law and can threaten and intimidate."

Mr Sutcliffe added: "Loan sharks prey on the most vulnerable people in our communities and we are determined to stop them operating and making money out of misery."