Ten people, most of whom live in New Rochelle, and connected to the Lucchese crime family are charged with running a large scale loan-sharking and gambling operation, according to New York State Attorney General Eric Schneiderman,
Investigators identified over 47 distinct loan-sharking victims, many with multiple loans, who were preyed on by the defendants, netting the operation over $1 million in interest payments.
Weekly loan interest rates were said to average about 200% a year.
Loan-sharking victims were allegedly required to make weekly, high interest payments, either by directly paying individual defendants or by dropping off cash payments at two New Rochelle businesses: McKiernan’s Lawton Street Tavern and The Glass Room smoke shop.
Schneiderman said on-line gambling sites were used to funnel victims into their loan-sharking operation. Police say the activity was caught on surveillance tape.