Main Line’s ‘godfather of payday financing’ sentenced to 14 years, removed of $64M, for preying on monetarily exposed

Main Line’s ‘godfather of payday financing’ sentenced to 14 years, removed of $64M, for preying on monetarily exposed

A former significant range expense banker who produced a career of flouting county guidelines and preying on cash-strapped individuals develop among the country’s biggest payday-lending empires was actually sentenced monday to 14 ages in national prison and stripped-down of greater than $64 million in aets.

But Charles M. Hallinan, 77, of Villanova, remained unrepentant when confronted with a jail phrase that his own solicitors stated might as well be a “death sentence” given his or her get older and swiftly declining overall health.

Hallinan said zero if given the possibility to addre U.S. section assess Eduardo Robreno before his punishment ended up being charged. In interview with probation officers before Friday’s reading in Philadelphia, this individual said he had been “exactly the exact opposite” of contrite.

Perhaps that was are predicted from one whoever co-workers called your “the godfather of payday credit.” Nevertheless only cemented the assess’s choice to rob Hallinan of his own significant financial holdings and versatility during the last numerous years of his existence.

“It could be a miscarriage of fairness to inflict a sentence that definitely not reflect the seriousne of that instance,” Robreno believed. “The sentence here should send a meage that violent perform like [this] will never pay.”

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