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Richard Moseley, Sr., arrested on charges related to $161 million fraudulent payday loan operation

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Rick Moseley, Sr. Photo via Facebook.
Rick Moseley, Sr. Photo via Facebook.
A businessman with northeast Johnson County ties made a first appearance in federal court Wednesday just hours after being arrested on charges relating to the operation of a payday lending company that bilked more than 620,000 people out of unauthorized charges.

Richard Moseley, Sr., faces one count of conspiracy to collect unlawful debts in violation of the Racketeer Influenced and Corrupt Organizations Act (RICO), one count of collecting unlawful debts in violation of RICO, one count of conspiracy to commit wire fraud, one count of wire fraud and one count of violating the Truth in Lending Act. Each of the first three charges carries a maximum penalty of 20 years in prison.

Moseley and his son, Richard Moseley, Jr., a Fairway resident, faced charges from the Consumer Financial Protection Bureau in September 2014 related to their payday loan operations.

The charges filed by the U.S. Attorney for the Southern District of New York this week suggest that Moseley’s Hydra Group operation generated around $161 million in revenues between November 2006 and August 2014, and that Moseley spent “millions of dollars he obtained from victims on, among other things, vacation homes in Colorado and Mexico, luxury automobiles, and country club membership dues.”

The U.S. Attorney’s Office’s release on the arrest and charges has more details.

About the author

Jay Senter
Jay Senter

Jay Senter is the founder and publisher of the Post.

He earned his bachelor’s degree in business at the University of Wisconsin – Madison, where he worked as a reporter and editor at The Badger Herald.

He went on to receive a master’s degree in journalism from the University of Kansas, where he earned the Calder Pickett Award. While he was in graduate school, he also worked as a reporter for the Lawrence Journal-World.

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