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Alleged Quincy loan shark arrested at Encore

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  Kimanh Le, 50, of Quincy, was recently charged with running a usury operation out of Encore Boston Harbor. Commonly known as loan-sharking, usury is defined as “loaning money to individuals at an interest rate that is above a maximum legal rate.”

  According to Attorney General Maura Healey’s Office, Le used cash and casino chips to provide loans to patrons. However, the loans either carried a daily interest rate of five percent or a weekly interest rate of 10 percent. Massachusetts usury laws prohibit annual loan interest rates from exceeding 20 percent.

  Le was taken into police custody on April 10 at Encore and was charged with four counts of usury. During her arraignment the following day, Le pleaded not guilty and was released on her own personal recognizance. However, she was ordered to remain in Massachusetts, forfeit her passport and stay away from Encore and any witnesses.

  Le has also been accused of running loan shark operations in Quincy and Dorchester.

  She is scheduled to be back in court on June 24. Under state law, Le, if convicted, could face up to 10 years in prison and a fine of up to $10,000.

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