Payday Lender Moseley Indicted for Wire Fraud, Other Charges

A payday lender who allegedly exploited more than 620,000 poor people in the U.S. by charging interest rates of more than 700 percent was indicted in New York on charges including collection of unlawful debts and wire fraud.

Richard Moseley Sr. was charged by a New York grand jury.

The charges coincide with arrests in Kansas City, Kansas, of payday loan mogul and race car driver Scott Tucker.

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