Operator Of Fraudulent Predatory Lending Scheme Found Guilty

Richard Moseley Extended More Than $220 Million In Predatory Lending Scheme To 620,000 Struggling Americans

predatory lending scheme

A federal court in Manhattan convicted Richard Moseley for operating a $220 million predatory lending scheme. Moseley was convicted on the charges of wire fraud and aggravated identity theft as well as RICO and TILA violations.

Moseley was operating a payday lending enterprise that systematically evaded state usury laws. He was also charging illegally high-interestest rates.

Moseley also was issuing payday loans to consumers who never even sought them.  He was before United State District Judge Edgardo Ramos convicted Moseley after a two and half week trial.

Read more at MFI-Miami

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