Modoc Nation sued over alleged high-yield loan scheme

By Caleb Symons (April 11, 2022 at 9:30 p.m. EDT) — An Oklahoma tribe that paid $2 million to avoid prosecution in a recent robbery loan case was hit with a new lawsuit Monday, in which he has been accused of helping run a separate lending company charges exorbitantly high interest rates.

The putative class action lawsuit, filed in Pennsylvania federal court, alleges that Modoc Nation leaders conspired with lending firm 500FastCash to collect revenue from these interest payments while circumventing federal and state consumer protection laws.

Idell Dearry, a Philadelphia resident who filed the lawsuit, says he paid thousands of dollars in interest to 500FastCash between 2011 and 2019 after the company converted his one-time payment…

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