Missouri businessman sentenced to 10 years for payday lending scheme

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A Kansas City, Missouri businessman was once sentenced to 10 years in jail on Tuesday after he was once discovered responsible working a $220 million payday lending scheme that charged illegally prime rates of interest and signed up debtors with out their consent, federal prosecutors mentioned. Richard Moseley, 73, was once sentenced by way of U.S. District Judge Edgardo Ramos in Manhattan, in accordance to the place of work of U.S. Attorney Geoffrey Berman in Manhattan. “Richard Moseley’s unlawful payday lending operation exploited greater than part one million of essentially the most financially prone other people within the U.S.,” Berman mentioned in a commentary.



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