Attorney Gets 8 Years in Jail for part in Payday Lending Scheme

A Delaware attorney has gotten an extended jail phrase for his part in a payday financing scheme that involved lying about his customer’s connections with indigenous American tribes to be able to dupe clients into repaying interest rates far over the limit that is legal.

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A Delaware attorney has gotten a long jail sentence for their role in a payday lending scheme that involved lying about native American tribes to his client’s connections to be able to dupe clients into paying prices of interest rates far over the appropriate limitation.

U.S. District Judge Eduardo Robreno regarding the Eastern District of Pennsylvania on May 25 sentenced Wilmington attorney Wheeler Neff to eight years in jail for their so-called role into the financing scheme, which aimed to get significantly more than $490 million from illegal pay day loans. The phrase included a $50,000 fine as well as a purchase for Neff to forfeit a lot more than $356,000 in unlawful profits.

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Max Mitchell

Max Mitchell is ALM’s Pennsylvania Bureau Chief overseeing The Legal Intelligencer, Delaware Law Weekly and Delaware company Court Insider. Follow him on Twitter MMitchellTLI. Their email is [email protected]

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