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Conviction and sentence that is 10-year in cash advance scam

NY (AP) — An appeals court on Tuesday upheld the conviction and sentence that is 10-year a man whom ran a $220 million predatory payday lending operation that cheated more than a half-million people nationwide.

The ruling by the second U.S. Circuit Court of Appeals in Manhattan kept intact the 2018 sentencing of Richard Moseley Sr., of Kansas City, Missouri.

The appeals court stated Moseley’s arguments had been “unpersuasive.”

Moseley, 76, had been convicted in 2017 of racketeering, fraudulence and identification theft for crimes committed while he went the ongoing business from 2004 to 2014.

He had been charged with abusing borrowers in ny as well as other states with interest prices exceeding — by numerous multiples — the most appropriate rates of interest permitted in those states.

Prosecutors stated Moseley’s lender exploited over 600,000 of the very most people that are financially vulnerable the united states, then Moseley dodged disgruntled clients and state regulators by running through the Caribbean or brand brand brand New Zealand.

At sentencing, a prosecutor stated Moseley had been whack-a-mole that is“playing the regulators.”

The sentencing judge read out excerpts from a small business plan that served being a blueprint for Moseley’s companies, saying: “If this is certainly a company plan, then it is a company arrange for an unlawful enterprise.”

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