Conviction and 10-year sentence upheld in payday loan scam
NEW YORK (AP) — An appeals court has upheld the conviction and 10-year sentence for a businessman who ran a $220 million predatory payday lending operation that cheated over a half-million people nationwide.
The ruling Tuesday by the 2nd U.S. Circuit Court of Appeals followed the 2018 sentencing of Richard Moseley Sr., of Kansas City, Missouri.
Moseley was convicted in 2017 of racketeering, fraud and identity theft for crimes committed while he ran the company from 2004 to 2014.
Prosecutors said Moseley's loan company exploited over 600,000 of the most financially vulnerable people in the country.
