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Pennsylvania and much more than a dozen other states have actually passed away legislation criminalizing loans that are such usurious.

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Pennsylvania and much more than a dozen other states have actually passed away legislation criminalizing loans that are such usurious.

PHILADELPHIA – Charles M. Hallinan, 76, of Villanova, PA, and Wheeler K. Neff, 69, of Wilmington, DE, had been discovered today that is guilty a federal jury of two counts of conspiracy to break the Racketeering Influenced and Corrupt Organizations Act (“RICO”) concerning “payday lending” organizations, one count of conspiracy to commit mail fraudulence, cable fraud, and cash laundering, along with two counts of mail fraudulence and three counts of cable fraud announced united states of america Attorney Louis D. Lappen.

Hallinan has also been convicted of nine counts of worldwide cash laundering.

Hallinan and Neff participated in a conspiracy that violated the usury rules of Pennsylvania along with other states and produced significantly more than $688 million in income, between 2008 and 2013, from thousands of clients, including residents of Pennsylvania which forbids loans that are such. (more…)