Financial Fraud

Financial Fraud

‘Godfather of Payday Lending’ Victimized Borrowers Nationwide

A 77-year-old previous landfill owner and investment banker from Pennsylvania whom created a surefire solution to make money—by illegally charging you high rates of interest on loans meant to those that could minimum manage them—will probably spend the remaining of their life in jail.

Charles Hallinan, dubbed by prosecutors whilst the “godfather of payday lending” because their techniques to circumvent state guidelines and conceal their long-running scheme paved just how for other people to adhere to inside the footsteps, recently received a 14-year prison that is federal for their role in gathering vast sums of bucks in short-term loans with interest levels that approached 800 %. Continue reading “Financial Fraud”