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.
