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@mustardbeak
The police could go at them from a different angle like not having street trading licences.
You need a licence to trade from the street http://www.hackney.gov.uk/em-licence-street-trading-400.htm they don't have them so cannot trade. Shut down the operation this way. Although this will never happen due to 'resources and man power' etc
Even if the CPS wont charge surely the police can retain goods believed to be stolen until they the seller can prove it belongs to them (I might be mistaken).
At least the Police could be down there with a list of stolen bikes every Sunday making these fuckers lives difficult turning frames over checking serial numbers etc.
The whole thing is such a joke bike crime will never be reduced when know hot spots like Brick Lane are allowed to thrive.