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 over ten years, Richard Moseley Sr. and his company, Hydra Lenders, exploited economically susceptible clients across the united states, expanding loans at interest levels in excess of 700per cent.

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

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