Kansas City businessman gets 10 years prison for payday scam - KCTV5 News

Kansas City businessman gets 10 years prison for payday scam

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U.S. District Judge Edgardo Ramos in New York imposed the sentence Tuesday on Richard Moseley Sr. (File photo) U.S. District Judge Edgardo Ramos in New York imposed the sentence Tuesday on Richard Moseley Sr. (File photo)
NEW YORK (AP) -

A Kansas City businessman has been sentenced to 10 years in prison for his conviction in a $220 million predatory payday lending operation that cheated over a half million people nationwide.

U.S. District Judge Edgardo Ramos in New York imposed the sentence Tuesday on Richard Moseley Sr.

Prosecutors said Moseley's loan company exploited over 600,000 of the most financially vulnerable people in the country.

Moseley was convicted last November of crimes committed between 2004 and 2014.

Ramos said he could not understand how a man lived an honorable life until age 60 only to ignore numerous red flags that his new business was a criminal enterprise.

Moseley said he felt shame about the harm he had caused so many people.

A prosecutor said Moseley was "enormously greedy" and "arrogant."

Copyright 2018 The Associated Press.

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