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A loan shark is a person who offers loans at extremely high or illegal interest rates, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. [1]
Vigorish (also known as juice, under-juice, the cut, the take, the margin, the house edge or the vig) is the fee charged by a bookmaker for accepting a gambler's wager. In American English, it can also refer to the interest owed a loanshark in consideration for credit.
shy: the interest charged on loans by loan sharks. shylock business: the business of loansharking. sitdown: a meeting, esp. with another family. soldier: the bottom-level member of an organized crime family who is made. spring cleaning: cleaning up, hiding or getting rid of evidence. straighten out, getting straightened out: becoming a made guy
Default interest on late payments may be charged at up to 1.46 times the ordinary maximum (i.e., 21.9% to 29.2%), while pawn shops may charge interest of up to 9% per month (i.e., 108% per year, however, if the loan extends more than the normal short-term pawn shop loan, the 9% per month rate compounded can make the annual rate in excess of 180 ...
A Bonanno crime-family soldier called “The Maniac” forced one of his loan-sharking victims to get naked to see if he was wearing a wire, barking, “Take off your f--king pants right now ...
Police in Rome say they have dismantled a brutal loansharking ring just as many shopkeepers are desperate for liquidity after being closed for weeks during COVID-19 lockdown. The crackdown ...
Bruno Lopes-Ferreira, 30, is charged with second-degree criminal usury, second-degree engaging in the business of criminal usury and more.
Paul Semplice – soldier given a 28-month prison term for running a loan-sharking operation in March 2019. [242] He was released on June 23, 2020. Michael Roccaforte – a reputed rising star in the Gambino family.