Ohio Usury Laws
Being caught with records of extortionate credit or usurious loans is charged as a first-degree misdemeanor, with up to six months in prison if convicted. Effective defense against charges of extortionate lending and usury is vital because these charges are often levied as part of larger indictments alleging organized crime.
Prosecutors take these types of financial crimes very seriously, so you need to work with the best defense team available. The attorneys at Patituce & Associates are some of Cleveland’s most experienced defense lawyers.
Take the first step toward the legal help you need by contacting our Cleveland criminal usury attorneys now at(440) 471-7784.
Extortionate Extension of Credit Law in Ohio
Under O.R.C. 2905.22, people who loan money with the understanding that a failure to pay it back can result in violent retribution (or who loan money at an interest rate over 25%) can be charged for criminal usury, extortionate extension of credit.
Charges and penalties for criminal usury in Cleveland, OH:
- Fourth-degree felony charges, with up to 18 months’ prison upon conviction
- Possessing the records can lead to a first-degree misdemeanor (6 months in jail)
Bookkeepers in criminal organizations can also be charged under this statute, even if they did not personally extend credit under such conditions. Additionally, crimes defined under O.R.C. 2905.22 are often charged in conjunction with other offenses, which can increase the penalties you face if convicted.
Defense of Criminal Usury in Ohio
Call to speak with Patituce & Associates. Our team is comprised of top-tier Cleveland defense attorneys. Let us use this experience to give you the upper hand in the courtroom and to stand up for your rights! Get in touch with our Cleveland criminal usury lawyer today to schedule a free case evaluation by calling (440) 471-7784!