Payday lending pioneer indicted in U.S. on racketeering charges
Source: Reuters
World | Thu Apr 7, 2016 2:03pm EDT
Payday lending pioneer indicted in U.S. on racketeering charges
BY NATE RAYMOND
A Pennsylvania businessman considered a pioneer in the payday loan industry was indicted on Thursday for engaging in a racketeering scheme, as part of a wider U.S. crackdown on abusive lending practices.
Charles Hallinan's payday lending businesses generated more than $688 million from 2008 and 2013, according to prosecutors. He was charged in an indictment filed in federal court in Philadelphia for conspiring to violate federal racketeering laws.
The indictment also charged Wheeler Neff, a Delaware lawyer whose clients included Hallinan, and Randall Ginger, a Canadian citizen who was a hereditary chief of the Mowachaht/Muchalaht First Nation in British Columbia.
Hallinan, a resident of Villanova, Pennsylvania, and Neff, 67, are expected to appear in court in later on Thursday, a spokeswoman for U.S. Attorney Zane Memeger in Philadelphia said. Ginger, 66, will appear at a later date, she said.
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http://www.reuters.com/article/us-usa-paydaylending-idUSKCN0X42FF