Defence chiefs are probing illegal money lending among soldiers – after at least two died while hounded for repayments by comrades.
Messages found on two men’s phones in the wake of their sudden deaths suggested they were being pursued to pay back fellow squaddies.
One veterans’ campaigner said young family men on low wages were turning to loan sharks to make ends meet.
Former Royal Marine Sergeant Major Jeff Williams warned many were unaware of the huge interest rates.
In March, an Irish Guardsman was found dead from a suspected suicide in Lincoln. Military police found WhatsApp messages on his phone demanding payment on money he had borrowed.
Details emerged after six members of the Irish Guards along with a veteran were arrested on drugs, money lending and money laundering offences.
In 2020 a soldier from another regiment who took his own life is also believed to have borrowed from colleagues. Mobile messages suggested he had been threatened.
Jeff Williams, of Veterans United Against Suicide, said: “We are aware of many cases where this is happening.
“At least two soldiers have taken their own lives after getting in debt to money lenders operating in the Army.
“The cost of living crisis is going to make the situation worse for young soldiers. This is a problem requiring urgent action.”
The Ministry of Defence refused to comment on the loan shark claims.
