Archive for the ‘installment loans instant approval’ Category

Conviction and 10-year sentence upheld in pay day loan scam

Friday, November 20th, 2020

NEW YORK (AP) — An appeals court on Tuesday upheld the conviction and sentence that is 10-year a guy whom ran a $220 million predatory payday financing operation that cheated more than a half-million people nationwide.

The ruling because of the second U.S. Circuit Court of Appeals in Manhattan kept intact the 2018 sentencing of Richard Moseley Sr., of Kansas City, Missouri.

The appeals court stated Moseley’s arguments had been “unpersuasive.”

Moseley, 76, had been convicted in 2017 of racketeering, fraudulence and identification theft for crimes committed as he went the business from 2004 to 2014.

He had been charged with abusing borrowers in nyc as well as other states with interest rates exceeding — by numerous multiples — the most appropriate interest levels allowed in those states. [more…]