2nd Circuit Upholds Conviction of Missouri Man Sentenced to ten years in Payday Lending Scheme

2nd Circuit Upholds Conviction of Missouri Man Sentenced to ten years in Payday Lending Scheme

Federal prosecutors into the Southern District of the latest York alleged that, for longer than ten years, Richard Moseley Sr. and his company, Hydra Lenders, exploited economically susceptible clients across the nation, expanding loans at rates of interest of a lot more than 700per cent.

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The U.S. Court of Appeals for the 2nd Circuit on Tuesday upheld the conviction of the lending that is payday administrator sentenced to a decade in jail on federal racketeering prices for managing a $220 million scheme that preyed on significantly more than 620,000 individuals nationwide.

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