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

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

A Delaware lawyer has gotten an extended jail phrase for his part in a payday financing scheme that involved lying about his client’s connections with Native American tribes so that you can dupe customers into repaying interest rates far over the limit that is legal.

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A Delaware attorney has gotten a long jail phrase for their part in a payday lending scheme that involved lying about his client’s connections with Native American tribes to be able to dupe customers into repaying interest rates far above the appropriate limitation.

U.S. District Judge Eduardo Robreno of this Eastern District of Pennsylvania on May 25 sentenced Wilmington lawyer Wheeler Neff to eight years in jail for their so-called part within the financing scheme, which aimed to gather significantly more than $490 million from unlawful pay day loans. The sentence included a $50,000 fine as well as a purchase for Neff to forfeit significantly more than $356,000 in unlawful profits.

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Max Mitchell

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

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