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Loan Sharking

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Loan Sharking
The practice of making illegal loans, usually by charging an extraordinarily high interest rate. For example, a loan shark may lend $1000 at a 2000% annualized interest rate, which is against the law in most states. Loan sharks are not financial institutions; indeed they often "collateralize" their loans with threats of violence. Loan sharking often is associated with organized crime. See also: Usury.
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Meanwhile, the Legal Affairs Committee will convene again next Thursday in another extraordinary meeting to discuss loan sharking.
Resolving financial disputes for ,e1/420 by Cyprus Mail (Cyprus)
Kajiyama, who has been convicted and is now serving time in prison, ran a network of 1,000 loan sharking groups for Goryo-kai.
Swiss authorities to halve seized money-laundering money with Japan by Japan Weekly Monitor
Mr O'Brien said: "It will be a specialist team that will be set up to, first of all, get the message across to the public that loan sharking is illegal and that people have to be licensed under the Consumer Credit Act before they can led money.
Special unit to smash loan sharks; Task force set up by Evening Chronicle (Newcastle, England)
 
 
 
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