Tuesday, September 10, 2019

Federal Prosecutors Open Probe into New York City Taxi Medallion Lending

The New York Times is reporting that the United States Attorney’s Office for the Southern District of New York has opened an investigation into possible lending fraud in the New York City taxi industry.

Federal agents have started to interview cabdrivers, who took on massive amounts of debt to purchase taxi medallions and were not fluent in English.

The investigation appears to be focused on possible crimes including bank, wire or mail fraud.

Read the story.
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