Villanova resident believed to face U.S. research of allegations he conspired to evade laws that are usury.
A resident of the Main Line, stayed one step ahead of state laws while amassing a fortune one high-interest loan at a time in nearly two decades of payday lending, Charlie Hallinan.
Now federal officials are planning a racketeering instance he conspired to evade usury laws, according to four sources with knowledge of the matter, who asked not to be identified because the proceedings are secret against him, gathering evidence in an attempt to show. Among the payday lenders with who Hallinan worked, Adrian Rubin, 58, of Jenkintown, faces a jail term of 10 to 65 years after pleading accountable Wednesday to racketeering fees.
“Rubin conspired along with other individuals to evade state usury guidelines as well as other restrictions on pay day loans by participating in a number of misleading business techniques,” Zane Memeger, the U.S. lawyer in Philadelphia, stated final thirty days in a declaration whenever Rubin ended up being charged. “Rubin and their co-conspirators reaped tens of vast amounts.”