Attorney Gets 8 Years in Jail for part in Payday Lending Scheme

Attorney Gets 8 Years in Jail for part in Payday Lending Scheme

A Delaware attorney has gotten a long jail sentence for their part in a payday financing scheme that involved lying about their customer’s connections with indigenous American tribes so that you can dupe clients into repaying interest rates far over the limit that is legal.

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A Delaware attorney has gotten an extended jail sentence for their part in a payday financing scheme that involved lying about native American tribes to his client’s connections so that you can dupe clients into paying prices of interest rates far over the legal limitation.

U.S. District Judge Eduardo Robreno for the Eastern District of Pennsylvania on May 25 sentenced Wilmington lawyer Wheeler Neff to eight years in jail for their role that is alleged in financing scheme, which aimed to gather a lot more than $490 million from illegal pay day loans. The phrase included a $50,000 fine and a purchase for Neff to forfeit significantly more than $356,000 in unlawful proceeds.

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Max Mitchell

Max Mitchell is ALM’s Pennsylvania Bureau Chief overseeing The Legal Intelligencer, Delaware Law Weekly and Delaware Business Court Insider. Follow him on Twitter MMitchellTLI. His email is [email protected]

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