Last Updated on: 1st August 2023, 12:40 am

Charged With Extortionate Credit Practices in New York City? How a Lawyer Can Help

Oh boy, extortion and organized crime charges are no joke. If you’re facing accusations of extortionate extensions of credit or collections in New York City, you need a tough defense lawyer in your corner. Don’t go it alone against state prosecutors – let’s discuss how an experienced NYC criminal attorney can fight these heavy racketeering allegations.

New York penal code §180.08 lays out the crime of extortionate extensions of credit, i.e. loan sharking. Basically, they get you for lending money at outrageously high interest rates backed by threats of violence. Even charging over 25% interest yearly can trigger charges if there’s evidence you used criminal means to collect.

For example, if you fronted cash to someone then sent goons to beat them up when they didn’t pay on time, you’ve earned yourself felony racketeering charges. We’re talking major prison time if state prosecutors can make the charges stick.

But just because D.A.s shouted “Off with their heads!” doesn’t mean you’re automatically headed to Rikers. By hiring a seasoned New York criminal defense attorney from a firm like Spodek Law Group, you can potentially escape prosecution or receive reduced charges/penalties.

See, for all their bluster, state prosecutors often overreach and bring inflated charges without sufficient evidence. A good lawyer knows how to exploit weaknesses in their case through procedural maneuvers and factual defenses.

For instance, if the supposed victim made inconsistent statements to police about threats from you, that casts doubt on their credibility. If police questioned you without reading Miranda rights or seized evidence without a warrant, that violates your constitutional rights. An experienced NYC defense lawyer knows how to get such damning evidence thrown out of court.

Prosecutors also routinely fail to prove critical elements of §180.08 like use of criminal means or collection of unlawful interest rates. If you lent money without actual threats of harm, made repayments flexible, or charged reasonable rates given the debtor’s credit risk, those are strong facts weighing against felony loan sharking convictions.

In cases with evidence problems, prosecutors will often bargain, agreeing to drop the most serious racketeering charges in exchange for guilty pleas on lesser offenses. But you need an attorney with negotiation skills to leverage vulnerabilities in their case and secure the best deal.

Spodek Law Group has achieved many favorable pretrial resolutions for clients charged with extortionate lending and collections practices. Through suppression motions and strategic negotiation, they’ve negotiated dismissals of the most severe criminal organization charges resulting in misdemeanor pleas for some clients and non-criminal violations for others.

Don’t wait and hope prosecutors are bluffing – call a NYC criminal defense lawyer immediately if you face allegations like §180.08 extortion and racketeering. With an experienced attorney by your side, what initially seemed an open-and-shut case can transform into a winnable fight for your freedom and reputation. Call Spodek Law Group 24/7 at (212) 300-5196 for urgent legal help.