A specialist Government team is investigating £200,000 of loans said to have been given in North East England following the launch of a loan-shark scheme earlier this year.

Fifty eight probes have been launched so far and consumer affairs minister Gareth Thomas said: "The investigations have started to lead to arrests and charges, with more activity expected over the coming months. This team is working around the clock to ensure that the credit crunch doesn't drive people into the murky world of illegal money lenders."

One Teesside woman was arrested for allegedly illegally lending £10,000 over a two-year period to over 50 victims, as well as possession of class A drugs and possession of a large quantity of counterfeit clothing. She is now on bail pending further inquiries.

Another female has been charged with illegally lending over £20,000 to around 40 people, using threats of violence to recover her payments and supplying class A drugs. She is on bail awaiting committal to crown court.

A man from County Durham has been arrested on suspicion of blackmail, illegal money lending and distributing counterfeit DVDs and is currently on bail.

And two men have been arrested for allegedly illegally lending £35,000 over an 18-month period. The two men, who are now on bail, are also suspected of committing blackmail offences.

David Sayer, chairman of the team's governance board, said: "This team is committed to tackling criminals through prosecutions, convictions, ripping up loan books and removing criminal assets.

"Anyone who is being preyed on by a loan shark should contact the team so that we can help."

The team can be contacted in confidence 24 hours a day on 0800 0304210 or by texting NET SHARK followed by your message to 60003.