Loan sharks might seem like characters from old movies, but they’re real and can cause a lot of trouble. In Las Vegas, we have laws to protect people from these illegal lenders. Let’s dive into what loan shark charges mean and how the law in Las Vegas deals with them.
A loan shark is a person or group who lends exceptionally high interest rates. This is usually done illegally. They often use threats or other forms of pressure to get their money back.
In Las Vegas and the whole of Nevada, charging high-interest rates is illegal. It’s called usury. The law says the most interest anyone can charge for a loan is 40% per year. Anything more than that, and it could be a loan shark situation.
If you’re charged with being a loan shark, it’s a severe offense. In Nevada, this is a felony. A felony is a type of crime that is more serious than a misdemeanor, and it can lead to more than a year in jail, a hefty fine, or both.
Anyone accused of being a loan shark faces serious consequences, but it’s important to remember that everyone is entitled to a fair defense. Here are some aspects of this process.
If you’re charged with loan sharking, you should first hire a defense attorney. This is a lawyer who specializes in defending people accused of crimes. For example, the Rosenblum Allen Law Firm has attorneys who can help build your defense case.
The defense might argue that the interest rate wasn’t illegally high or the loan was made under legal terms. Sometimes, threats or intimidation, often associated with loan sharking, did not occur.e, and the standard of living during the marriage.
Your lawyer can also help you understand the likely outcomes based on your situation and the law. They can guide you through the legal process, represent you in court, and advocate for your interests.
Even if you’re charged with a crime, you still have rights. You have the right to remain silent and the right to an attorney. This means you don’t have to say anything that could be used against you, and you can have a lawyer help you.
If your case goes to trial, it will be heard by a judge or a jury. The prosecution, trying to prove that you committed the crime, will present their evidence first. Then, your defense attorney will show your side of the story.
The judge or jury will decide if you’re guilty based on the evidence. If you’re found not guilty, you’re free to go. If you’re found guilty, you could face jail time, fines, or both.
However, a skilled defense attorney, like those at The Rosenblum Allen Law Firm, will work hard to present a strong defense. They’re there to protect your rights and try to achieve the best possible outcome for you.
When you’re facing serious charges such as loan sharking, you need a law firm that’s more than just competent.
Here’s why The Rosenblum Allen Law Firm is the right choice.
Our firm is based right in Las Vegas. We understand the local legal landscape and have deep knowledge of Nevada laws. This allows us to navigate the complex legal system and effectively represent our clients.
Our team comprises seasoned attorneys who bring years of experience to the table. They have dealt with various cases, equipping them with the necessary skills and experience to handle complex legal matters.
We believe in putting our clients first. Our attorneys listen to your concerns, answer your questions, and explain the legal process clearly. We understand that facing legal charges can be stressful, and we strive to provide support and reassurance every step of the way.
We’re proud of our track record at The Rosenblum Allen Law Firm. We’ve successfully represented many clients, helping them navigate their legal challenges and secure favorable outcomes. While every case is unique, our commitment to diligent, effective representation remains constant.
The first step is to remain calm and not discuss your case with anyone except your attorney. Contact a defense attorney as soon as possible. They can provide advice tailored to your situation and help protect your rights.
A defense attorney represents you if you’re accused of a crime. They work to build a strong defense, challenge the prosecution’s evidence, negotiate with the prosecution, and speak on your behalf in court. They aim to ensure you’re treated fairly and for the most favorable outcome.
A client-centered approach means we put our clients’ needs at the forefront of everything we do. We listen carefully to our clients, clearly explain the legal process, and promptly respond to their concerns.
While we can’t discuss specific cases due to confidentiality, our attorneys have dealt with various legal cases. This broad experience equips us to handle complex legal matters effectively.
You can contact us through our website or by phone. We offer a free initial consultation where you can discuss your case confidentially with one of our attorneys.
Not all cases end up in court. Sometimes, cases can be resolved through negotiation or plea agreements. However, having an experienced defense attorney by your side is crucial if your case goes to trial.
We believe in keeping our clients informed at The Rosenblum Allen Law Firm. Your attorney will update you regularly about your case, explain any developments, and discuss what they might mean for you.
Loan Shark: An illegal lender who charges highly high-interest rates. Loan sharks often use threats or other pressure to get their money back.
Usury: The illegal action or practice of lending money unreasonably high interest rates.
Felony: A serious crime that can lead to more than a year in jail, a hefty fine, or both. It’s more severe than a misdemeanor.
Defense Attorney: A lawyer who represents individuals accused of crimes.
Interest Rate: The proportion of a loan charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
Prosecution: The party who starts the legal proceedings against another party for violating the law.
Trial: A formal examination of evidence before a judge, and typically before a jury, to decide guilt in a case of criminal or civil proceedings.
Client-Centered Approach: A way of doing things where the client’s needs and experiences are the top priority.
Plea Agreement: An agreement in a criminal case where the defendant agrees to plead guilty to a particular charge in return for some concession from the prosecutor. This may lead to a reduced sentence or to having some charges dropped.
Confidentiality: A principle that restricts access to and dissemination of information. In legal terms, attorneys must keep their client’s information confidential.
Here are seven offsite resources that you might find useful for further understanding and assistance:
American Civil Liberties Union (ACLU): The ACLU works in the courts, legislatures, and communities to defend and preserve the individual rights and liberties guaranteed by the Constitution and laws of the United States.
National Association of Criminal Defense Lawyers (NACDL): NACDL’s mission is to serve as a leader, alongside diverse coalitions, in identifying and reforming flaws and inequities in the criminal justice system.
Justia: Justia provides free case law, codes, regulations, and legal information for lawyers, business, students, and consumers worldwide.
FindLaw: FindLaw’s mission is to make the law accessible and understandable for everyone. It’s a trusted legal resource for legal information and lawyers.
Legal Information Institute (LII) from Cornell Law School: LII provides access to law, and other legal materials, to everyone, free of charge.
The Innocence Project: The Innocence Project works to exonerate the wrongly convicted through DNA testing and reforms the criminal justice system to prevent future injustice.
The Sentencing Project: The Sentencing Project works for a fair and effective U.S. criminal justice system by promoting reforms in sentencing policy, addressing unjust racial disparities and practices, and advocating for alternatives to incarceration.
Watch this short video to take the next big step toward defending your rights against your felony charge.
I appreciate your time educating yourself about loan shark charges and the legal resources available. It’s a challenging and complex situation, and I commend your proactive approach to understanding the legal landscape.
As important as it is to gather information, nothing compares to personalized legal advice from an experienced attorney. That’s why I’m inviting you for a free consultation with our team. We can discuss your situation, answer any questions you may have, and provide guidance on your next steps.
Please don’t hesitate to reach out. You can reach us directly at (702) 433-2889. We’re here to help you navigate this challenging time confidently and clearly.
Molly Rosenblum, Esq