Head of KC-based payday lending scheme gets 10 years

The leader of a Kansas City payday lending operation that defrauded borrowers was sentenced Tuesday to 10 years in prison.

Richard Moseley Sr. was sentenced after being found guilty in November of racketeering, fraud and identify theft. In addition to the prison term, U.S. District Judge Edgardo Ramos sentenced the 73-year-old to three years of supervised release and ordered him to forfeit $49 million.

Prosecutors said Moseley ran a $220 million fraudulent scheme through a group of companies known…...

4 Published By - San Francisco Business Times - Banking & Financial News - Banking & Financial News Headlines - 2018.06.13. 00:52
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