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Serving Ml Carmel and Wabash County SinceFriday, November 22, 1991Mt. Carmel couple chargedwith ‘loan shark’ activitiesWabash County State’s Attorney Steve Sawyer has filed criminal felony charges against Richard H. Perry and Priscilla T. Perry, both of rural WabashCounty, in connection with “loanshark” activities allegedly carried on in conjunction with their business at “Pat’s Pawn, Etc.” at 519 Market St.Both defendants were charged with 80 counts of Criminal Usury, each a Class 4 Felony under the Illinois Criminal Code, and 27 counts of Charging of Unlawful Interest Rates By A Pawnbroker, each a Misdemeanor under the Illinois Regulation of Pawnbrokers Act.In addition, Richard H. Perry has been charged with Intimidation, a Class 3 Felony, and misdemeanor Battery, in conjunction with incidents in which he is alleged to have threatened a Wabash County man and struck him about the head with his fistin the presence of the man’s wife and children at the man’s residence in Patton, for the purpose of collecting upon a loan made by the defendants to that individual.The Illinois Criminal Code provides that a person commits Criminal Usury when that person knowingly lends money at an interest rate greater than 20 percent per year without being licensed to do so under the Illinois Consumer Installment Loan Act. In this case, the defendants, according to Sawyer, arc alleged to have been unlicensed and to have made short-term loans on some 80 occasions at prevalent interest rates of approximately 300 percent per year.“The Regulation of Pawnbrokers Act provides that it is unlawful for a pawnbroker to advance money on pawned property at an interest rate exceeding 3 percent per month,” according toSawyer. “The defendants are alleged to have advanced such funds on 27 occasions at prevalent interest rates of approximately 25 percent per month, or 300 percent per year.” *“The investigation leading to these charges was conducted by the Wabash County Slate’s Attorney’s Office and the Mt. Carmel Police Department. Information regarding possible Mt. Carmel City Ordinance violations concerning pawnbroking transaction reporting requirements have been referred to the City Attorney,” Sawyer added.The defendants were arrested by the Wabash County Sheriff Thursday pursuant to an arrest warrant issued by the Wabash County Circuit Court. They each posted $3,000 cash bail and were released pending first appearance in Wabash County Circuit Court scheduled for Dec. 16, 1991.Clii rAorAn n ppiiiinn aokI
Newspaper Details
Mount Carmel Daily Republican Register
Mount Carmel, Illinois, US
Fri, Nov 22, 1991
Page 19
Full Page
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USA 04 Jan 2019
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