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DA Vance Announces Guilty Pleas of “Payday” Lenders for Criminal Usury Scheme

DA Vance Announces Guilty Pleas of “Payday” Lenders for Criminal Usury Scheme

BROWN can also be needed to perform 250 hours of community solution underneath the plea contract.

Manhattan District Attorney Cyrus R. Vance, Jr., announced the accountable pleas of CAREY VAUGHN BROWN, 57, in addition to two organizations he operated and managed, CREDIT PAYMENT SERVICES, INC. (“CPS”) and MYCASHNOW.COM, INC. (“MYCASHNOW”), to Criminal Usury in the 1st Degree for participating in a scheme to produce numerous short-term, high-interest loans – referred to as “payday” loans – to Manhattan residents. (more…)