вЂGodfather of Payday LendingвЂ™ Victimized Borrowers Nationwide
A 77-year-old previous landfill owner and investment banker from Pennsylvania who created a surefire option to make moneyвЂ”by illegally charging you high rates of interest on loans designed to those that could minimum manage themвЂ”will probably spend the remaining of their life in jail.
Charles Hallinan, dubbed by prosecutors given that вЂњgodfather of payday lendingвЂќ because their techniques to circumvent state legislation and conceal their long-running scheme paved the way in which for other people to check out in the footsteps, recently received a 14-year federal jail phrase for their part in collecting vast sums of bucks in short-term loans with interest levels that approached 800 %.
Prosecutors portrayed Hallinan as being a loan that is ruthless whom enriched himself by trapping their victims in a endless period of debt. 继续阅读