A 77-year-old previous landfill owner and investment banker from Pennsylvania who developed a surefire solution to make money—by illegally charging you high interest levels on loans meant to those that could least manage them—will probably spend the remaining of their life in jail.

Charles Hallinan, dubbed by prosecutors because the “godfather of payday lending” because their techniques to circumvent state guidelines and conceal their long-running scheme paved just how for other people to follow along with in the footsteps, recently received a 14-year prison that is federal for their part in gathering billions of bucks in short-term loans with interest levels that approached 800 % useful source.

Prosecutors portrayed Hallinan as a ruthless loan shark whom enriched himself by trapping their victims within an endless cycle of financial obligation.

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