New Count Of Loan-Sharking Filed Against Accused Ponzi Schemer

breakingnews72Already facing criminal Ponzi and loan-sharking charges in Massachusetts and a disgorgement order of at least $3.1 million in an SEC civil case brought him in April 2013, Steven Palladino faces a new hurdle: He has been arrested again for loan-sharking.

That arrest came yesterday, according to the office of Suffolk County (Mass.) District Attorney Daniel F. Conley.

Less than two months ago (July 18, 2013), the SEC said it had obtained a disgorgement order of at least $3.1 million against Palladino and his company, Viking Financial Group Inc.

On Aug. 11, Palladino repeatedly “began calling and texting” to demand repayment of $30,000 from a customer to whom he’d provided an illegal loan in February 2013 at a usurious interest rate of 40 percent,  Conley’s office said.

“The victim contacted Boston Police, who yesterday apprehended Palladino in his 2012 Mercedes CLS 63 AMG Coupe at a West Roxbury gas station,” Conley’s office said. ” In his pockets were wads of cash totaling $4,395 and a check to the Viking Financial Group for $3,499.47.”

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