Caramandi and his friend Charlie Iannece had $500,000 invested in a loan sharking operation.

"One advance-fee loan operation in Delaware was the subject of more than 500 complaints from consumers in other states," the survey reports.

In a legitimate loan operation the percentage would be fifteen or eighteen percent at most.

"I think you should do your thing$99 I "First, tell me the name of the loan operation.

Federal and state examination and supervisory staffs insufficient in number, experience, or ability to deal with the new world of savings and loan operations.

The loan sharking operation had been going on since 1994, the FBI said.

After the merger, First American's loan operations moved to Birmingham.

The New Jersey Attorney General's office has closed down two advance-fee loan operations and 11 companies that operate 900 numbers.

The EIB's loan operations are in keeping with the objectives of that co-operation policy.

More importantly, however, they also come away with a ledger which contains evidence of the union's illegal loan operation and ties to organized crime syndicates.