Loan Shark

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Loan Shark

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.

References in periodicals archive ?
By the 1950s, organized crime espoused loansharking en masse in major cities.
A mother of three from Merthyr Tydfil went into hiding more than two years ago after reporting members of her own family for loansharking.
Loansharking is probably the mafia's most profitable and risk-free business.
The family stole millions of dollars through loansharking, extortion, embezzlement, labour racketeering, credit card fraud, attempted bank fraud and gambling, crimes that led to conspiracy and racketeering charges, the prosecutor said.
The Court reviewed the extensive record that led Congress to conclude that loansharking had a close connection to organized crime and that the activity, in the aggregate, had widespread economic effects.
Starting out as a common laborer, he eventually built a criminal operation that made a profit of $150 million a year from loansharking, extortion, narcotics, bookmaking, and labor racketeering.
at 340-41 (detailing the unlawful search of Calandra's business by federal agents and their seizure of loansharking evidence which the grand jury later attempted to use as the basis for questioning).
Personally, I can't balance my checkbook, let alone evaluate a case against someone for loansharking. Hence I have no way to know if Giordano was culpable.
Private actors may rely on vandalism or other forms of physical violence precisely because the underlying private-order arrangement conflicts with an established public norm, as, for example, when the underlying arrangement is a loansharking contract.
Those most likely to use such ciphers include criminals involved in clandestine activities that require incriminating records, such as drug trafficking, loansharking, and illegal bookmaking.
United States,(279) the Supreme Court upheld the regulation of intrastate loansharking because "[w]here the class of activities is regulated and that class is within the reach of federal power, the courts have no power `to excise, as trivial, individual instances' of the class."(280) This rationale was used by the Court of Appeals for the Third Circuit, prior to Lopez, to uphold a conviction for filling wetlands without a permit.(281) Unlike the regulation of wetlands, however, the activity in Perez-loaning money at usurious rates-is inherently commercial.
Police yesterday searched the offices of a cardinal who is under investigation for loansharking, extortion and gangster links.