Kansas City pay day loan mogul pleads to bankruptcy fraudulence | The Kansas City Star

Kansas City pay day loan mogul pleads to bankruptcy fraudulence | The Kansas City Star

Del Kimball, a prominent figure in Kansas City’s payday lending scene, waived a federal indictment on Tuesday afternoon and pleaded responsible to a bankruptcy fraud fee.

Kimball, 53, showed up together with lawyer, J.R. Hobbs, before U.S. District Court Judge Beth Phillips, whom accepted Kimball’s responsible plea. He’s set for sentencing on June 2; he can stay away on personal recognizance relationship until then, as long as he will not travel not in the Kansas City area and surrenders their passport.

He faces a maximum of 5 years in jail or more up to a $250,000 fine.

The fees against Kimball stem from his bankruptcy that is personal case 2015.

Kimball, in addition to a downtown Kansas City cash advance business he co-owned called LTS Management, had been forced into involuntary bankruptcy by creditors claiming become owed vast amounts from investments into payday lending. Read more…