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Loan Shark
(redirected from loansharking)

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.

A person who lends money in exchange for its repayment at an interest rate that exceeds the percentage approved by law and who uses intimidating methods or threats of force in order to obtain repayment.

In most jurisdictions Usury laws regulate the charging of interest rates. Loan sharking violates these laws, and in many states it is punishable as a criminal offense. The usual penalty imposed is a fine, imprisonment or both.



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Operation Crooked House" was a two-year investigation by prosecutors and state and city police into alleged illegal gambling and bookmaking, loansharking, extortion, and attempts to corrupt the police.
His position may have become untenable after the most recent scandal to emerge--the gunning down of a Limassol police officer who was later linked to loansharking and dealings with mob figures.
The family's crimes are believed to include labour and construction racketeering, loansharking, extortion, drug trafficking, money laundering, prostitution and murder for hire.
 
 
 
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