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 phrase for their part in a payday financing scheme that involved lying about his client’s connections with indigenous American tribes so that you can dupe customers into repaying interest rates far over the legal limit.

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A Delaware attorney has gotten a long jail sentence for their part in a payday financing scheme that involved lying about native American tribes to his client’s connections to be able to dupe clients into paying rates of interest rates far over the appropriate 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 his so-called part within the lending scheme, which aimed to gather a lot more than $490 million from unlawful pay day loans. The phrase included a $50,000 fine as well as a purchase for Neff to forfeit a lot 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 company Court Insider. Follow him on Twitter MMitchellTLI. Their email is [email protected]

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