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 received a long prison phrase 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 customers into paying rates of great interest rates far over the legal limitation.

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A Delaware lawyer has gotten a long prison 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 clients into paying prices of interest rates far over the appropriate limitation.

U.S. District Judge Eduardo Robreno associated with 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 financing scheme, which aimed to get 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 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. His email is [email protected]

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