Emiel Kandi
"He admits he charges borrowers as much as he can get away with — 45 percent interest in one case — and makes it clear to them that if they fail to comply with the loan agreements, he will take their property.
"I am a wolf," he explained."
http://seattletimes.nwsource.com/html/localnews/2013427831_hardmoney14.html
Reading the Seattle Times article, it appears that desperate people are signing quit claim deeds over to this guy that wears a nice suit, bulletproof vest and a gun.
In once case, did I read that right? A promissory note for $170,000 for a $17,000 loan? The extra zero was for any future legal expenses. Well I guess. If I was told that payback on 17k was going to be ten times that amount, I would be suing too.
And you thought guys that robbed banks were the bad guys.
It may be the guys preying on sheep that pose as banks.
"He admits he charges borrowers as much as he can get away with — 45 percent interest in one case — and makes it clear to them that if they fail to comply with the loan agreements, he will take their property.
"I am a wolf," he explained."
http://seattletimes.nwsource.com/html/localnews/2013427831_hardmoney14.html
Reading the Seattle Times article, it appears that desperate people are signing quit claim deeds over to this guy that wears a nice suit, bulletproof vest and a gun.
In once case, did I read that right? A promissory note for $170,000 for a $17,000 loan? The extra zero was for any future legal expenses. Well I guess. If I was told that payback on 17k was going to be ten times that amount, I would be suing too.
And you thought guys that robbed banks were the bad guys.
It may be the guys preying on sheep that pose as banks.
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