WorldAugust 28, 2026

loansharking

LOHN-shahr-king

Definition

The illegal practice of lending money at exorbitant or usurious interest rates, often involving threats or intimidation to ensure repayment.

Etymology

The term originated in the late 19th century as a combination of 'loan' and 'shark,' with 'shark' metaphorically describing a person who preyed on others for money.

In the news

The article mentions loansharking as part of a larger criminal investigation into a syndicate linked to the Lucchese crime family. It illustrates the range of illicit activities, alongside gambling and money laundering, that the criminal enterprise engaged in.

AG Davenport Announces Prospect Park Councilman Admits Role in Illegal Gambling Operation

Read the full article ↗

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