’Godfather of payday financing' sentenced to 14 years in U.S. jail. Robreno additionally ordered Hallinan to cover a $2.5 million fine.

’Godfather of payday financing' sentenced to 14 years in U.S. jail. Robreno additionally ordered Hallinan to cover a $2 <a href="https://homeloansplus.org/payday-loans-mn/">online payday MN</a>.5 million fine.

(Reuters) – A Pennsylvania businessman referred to as “godfather of payday financing” ended up being sentenced on Friday to 14 years in jail for conspiring to get on billions of bucks in unlawful high-interest loans released to lots of people.

Charles Hallinan, 77, ended up being sentenced by U.S. District Judge Eduardo Robreno in Philadelphia after a jury that is federal November discovered him responsible on fees including racketeering conspiracy, mail fraud and cable fraudulence, prosecutors stated.

Prosecutors had tried as much as 19-1/2 years in jail for Hallinan, whom they stated owned and operated significantly more than a dozen lending that is payday and through their crimes harmed thousands and thousands of financially-desperate people. (więcej…)

Czytaj dalej’Godfather of payday financing' sentenced to 14 years in U.S. jail. Robreno additionally ordered Hallinan to cover a $2.5 million fine.