18 U.S.C. § 893
Financing extortionate extensions of credit
Whoever willfully advances money or property, whether as a gift, as a loan, as an investment, pursuant to a partnership or profit-sharing agreement, or otherwise, to any person, with reasonable grounds to believe that it is the intention of that person to use the money or property so advanced directly or indirectly for the purpose of making extortionate extensions of credit, shall be fined under this title or an amount not exceeding twice the value of the money or property so advanced, whichever is greater, or shall be imprisoned not more than 20 years, or both.
Notes of Decisions
Cited in 15
cases (1 in the last 5 years), 1973–2023 · leading case: United States v. Edward T. Perrotta
United States v. Edward T. Perrotta (2002)
“On appeal, Perrotta argues that the evidence was insufficient to support his convictions, that the district court erred in admitting into evidence weapons seized during a search of his home and car, that the seizure of the weapons violated the Fourth Amendment, and that 18…”
United States v. Dominic Santarelli (1985)
“18 U.S.C. § 893 (1982). Section 894 makes it a crime to use extortionate means to collect extensions of credit or to punish any person for failure to repay.”
United States v. Gus Sclafani and Ben Ross (1973)
“Sclafani was convicted on three counts of loansharking, in violation of the Extortionate Credit Transaction Act of 1968, 18 U.S.C. §§ 893 and 894 (1970); *247 on one count of conspiring to finance an extortionate credit transaction, in violation of 18 U.”
United States v. Paul H. \Bud\" Holmes" (1987)
“18 U.S.C. § 893 . In contrast, the maximum fine under section 3623(a)(3) for this felony would be $250,000, and the maximum fine under subsections 3623(c) and 3623(a)(2) would be "twice the gross gain,” in this case $200,000.”
United States v. Gambale (1985)
“§ 892 , the financing of extortionate credit transactions in violation of 18 U.S.C. § 893 , conspiracy to commit these offenses in violation of 18 U.”
John Gammarano v. United States (1984)
“Approximately two and one-half years later, on September 29, 1982, while still on probation, Gammarano was once again indicted, this time for financing an extortionate extension of credit in violation of 18 U.S.C. § 893 and collecting and conspiring to collect by extortionate…”
United States v. DeSantis (1992)
“§ 894 (Count Two); charges Desantis only with financing extortionate extensions of credit in violation of 18 U.S.C. § 893 (Count Three) and with making extortionate extensions of credit in violation of 18 U.”
United States v. Scarpa (2017)
“In late 1998, a jury returned a verdict finding him guilty on all six counts of a superseding indictment, including extortionate extensions of credit, in violation of 18 U.S.C. § 893 , and RICO conspiracy, in violation of 18 U.”
United States v. 392 Lexington Parkway South, St. Paul (2005)
“See 18 U.S.C. § 893 (d)(3)(A); Strom v. Palatine Nat’l Bank of Palatine, Illinois, 921 F.”
United States v. Fred Cheiman and Nick Sardelis (1978)
“” 18 U.S.C. § 893 . 3. An “attempt to collect” any debt or claim, “whether acknowledged or disputed, valid or invalid, and however arising” by using “any extortionate means,” which is defined as “any means which involves the use, or an express or implicit threat of use, of…”
WEST v. BANK OF AMERICA (2023)
“Defendants BANA, CRB, and Members 1st have each filed motions to dismiss Plaintiff’s Complaint, asserting that Plaintiff fails to state a claim under TILA because the right to rescind does not apply to auto loans, that the statute of limitation bars both the TILA and FDCPA…”
United States v. Filippi (2002)
“The indictment charged that Perrotta had financed extortionate extensions of credit from Folco to Regine, in violation of 18 U.S.C. § 893 . Most of the defendants pled guilty.”
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