Modus Operandi by Mauro Corvasce (universal ebook reader txt) 📕

A sit down was called with the chief loan shark. It was ruled that the chief should take over the company and operate its plant. In a few months the company was looted of all its assets and driven into bankruptcy.

Failure to meet payments is met with grave disapproval and followed by the imposition of severe sanctions. Depending on the nature of the case and especially on the victim's assets, a decision is made and a penalty imposed. This penalty may take the form of assault, murder or appropriation of the customer's property.

Loan sharks are very successful because the police find them difficult to investigate. It is a personal transaction to which there are usually no witnesses other than the two persons involved. In fact, many loans are negotiated under circumstances the victim is actually reluctant to reveal. For example, gambling losses are a common cause of approaching a loan shark. A husband takes five hundred dollars from his paycheck and gambles it away. He finds that he owes the loan shark seven hundred dollars within twenty-four hours and will not want to admit to his spouse where the first five hundred actually went. This is the last type of person that will report to the police that he is a victim of loan sharking.

All states have statutes covering extortion and conspiracy in an attempt to control the criminal activities of loan sharks. However, in cases of loan sharking that are reported to the police, the only person arrested, indicted and sent to prison is the enforcer of the loan shark, who, when being sent to break a few arms and legs, was set up by the police. In these cases our experience has shown that the victim, even though he has gone to the police, will not be bothered any further. After all, why should the loan shark bother with a victim who is under police surveillance when the city is filled with customers ready, willing and able to pay 5 percent interest per week!