Attorney Gets 8 Years in Jail for part in Payday Lending Scheme
A Delaware lawyer has gotten a long prison phrase for their role in a payday financing scheme that involved lying about their client’s connections with indigenous American tribes so that you can dupe clients into paying rates of interest rates far over the limit that is legal.
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A Delaware lawyer has received a long prison sentence for his role in a payday financing scheme that involved lying about his client’s connections with indigenous American tribes to be able to dupe customers into paying interest rates far over the appropriate restriction.
U.S. District Judge Eduardo Robreno associated with Eastern District of Pennsylvania on May 25 sentenced Wilmington attorney 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 phrase included a $50,000 fine plus 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 Business Court Insider. Follow him on Twitter MMitchellTLI. Their e-mail is [email protected]
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