Charles hallinan pay day loan a Main that is former Line banker referred to as вЂњGodfather of payday lending
A previous Main Line investment banker referred to as вЂњGodfather of payday lendingвЂќ for preying on low-income borrowers had been sentenced Friday to 14 years in federal jail and stripped of over $64 million in assets, reports philly.com.
вЂњIn this industry, to construct a big guide, you need to run afoul for the regulatorsвЂќ -Charles M. Hallinan
Attorneys for 77-year-old Charles M. Hallinan argued that the jail term may as well be described as a вЂњdeath sentenceвЂќ offered their age and decreasing wellness, nonetheless District Judge Eduardo Robreno offered no quarter while he rendered their verdict after having a jury convicted him of 17 counts, including racketeering, worldwide cash laundering and fraud.
вЂњIt will be a miscarriage of justice to impose a phrase that will perhaps maybe not reflect the severity of the situation,вЂќ Robreno stated. Read More