DOJ Targets Payday Lender Utilizing RICO
On June 22, 2015, the usa AttorneyвЂ™s office for the Eastern District of Pennsylvania filed an information charging Adrian Rubin of Jenkintown, PA, with: (1) one count of conspiracy to break RICO, 18 U.S.C. В§ 1962(d); (2) one count of conspiracy to commit mail fraud and cable fraudulence, 18 U.S.C. В§ 371; (3) two counts of mail fraudulence, 18 U.S.C. В§ 1341; and (4) aiding and abetting mail fraudulence, 18 U.S.C. В§ 2. in line with the charging you document, between 1998 and 2012, Rubin owned, managed, financed, and/or struggled to obtain multiple organizations that issued short-term вЂњpaydayвЂќ loans вЂ“ each of which allegedly flouted state guidelines to make an income.
The RICO Allegations
The RICO allegations against Rubin comprise principally, although not solely, of RubinвЂ™s alleged involvement in three major payday financing activities: (1) a вЂњrent-a-bankвЂќ scheme to give payday advances in breach of state legislation, (2) moving of financing operations to a situation this is certainly вЂњusury friendlyвЂќ to help make loans in states that prohibit usury; and (3) a вЂњrent-a-tribeвЂќ scheme in order to avoid usury regulations.Read More›