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A previous Main Line investment banker referred to as “godfather of payday financing” had been discovered bad of racketeering conspiracy costs Monday by federal jurors, whoever verdict cast question on the legality of company strategies which have enabled the industry that is multibillion-dollar years.
The panel of nine ladies and three males took significantly less than nine hours to convict Charles M. Hallinan вЂ” whom in an almost two-decade profession originated strategies which have been widely adopted by other payday lenders вЂ” on 17 counts which also included fraudulence and worldwide cash laundering.
- Principal Line payday lender’s fate in arms of federal jury
- Appropriate head behind principal Line payday loan provider’s empire defends business at test
- What sort of Main Line payday lender utilized A indian tribe and an empty computer host to help make millions
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