Political Donor Connected To Payday Loan-Related Fraud

Political Donor Connected To Payday Loan-Related Fraud

By Lindsay Frankel

Ahmad “Andy” Khawaja received their wide range by giving re re payment processing services for “high-risk” organizations.

professionals at Khawaja’s Los Angeles-based company, Allied Wallet Inc., have aided create sham internet sites and fake companies to front for the lawfully questionable tasks of the consumers, relating to interior business papers analyzed by The Associated Press. Khawaja in addition has made prominent donations that are political Democrats and Republicans, including both Hilary Clinton and Donald Trump. Khawaja’s presents included a $1 million donation to Trump’s inaugural committee. Recipients never ever questioned just exactly how Khawaja obtained his fortune, though most of the continuing organizations Allied Wallet supported have involved with disreputable, if you don’t unlawful, techniques.

Khawaja along with his attorney would not react to concerns through the AP for over a thirty days. The organization’s marketing director, A.J. Alameda, stated a week ago in a statement that “any accusations of illicit or prohibited tasks are misleading and categorically false.”

He has supported senators on the banking committee, which is responisble for regulating his industry while it’s not clear if there is an agenda behind Khawaja’s political giving. The Trump management’s steady deregulation of this payday financing industry can also be very theraputic for Allied Wallet clients. This past year, the Trump administration halted Obama-era system procedure Choke Point, which discouraged banking institutions from developing business relationships with payday loan providers.

Assisting Payday Loan Loan Companies

One of Allied Wallet’s clients, a debt collection firm utilized aggressive methods to persuade thousands of Americans into forfeiting cash.

This included threatening consumers who never used payday loans and didn’t owe money in many cases.

The organization ended up being forced away from company in 2016 following the Federal Trade Commission charged business owners with fraudulence. Continuar lendo Political Donor Connected To Payday Loan-Related Fraud