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second Circuit Upholds Conviction of Missouri Man Sentenced to ten years in Payday Lending Scheme

Federal prosecutors into the Southern District of brand new York alleged that, for longer than a ten years, Richard Moseley Sr. and his company, Hydra Lenders, exploited economically susceptible clients across the united states, expanding loans at rates of interest of a lot more than 700per cent.

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The U.S. Court of Appeals for the 2nd Circuit on Tuesday upheld the conviction of a lending that is payday administrator sentenced to a decade in jail on federal racketeering prices for operating a $220 million scheme that preyed on a lot more than 620,000 individuals nationwide.

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