The Godfather Don Corleone is having trouble with his hotheaded son “Sonny.”
Sonny keeps getting the Family in trouble.
Sonny was arrested for “aggravated loan sharking” when he went into a local pizza parlor and threatened to break the legs of the owner if he didn’t pay some steep interest on the “protection” loan made to him by the Family.
The loan bears interest at a rate of 75%, payable on demand by Sonny. Now Sonny is behind bars facing prosecution. The Godfather seeks legal counsel from his attorney Tom Hayden.
Under Louisiana criminal law, “loansharking” occurs when a person knowingly solicits or receives any money or anything of value as interest or payment for a loan at a rate exceeding 45% per annum. This becomes an aggravated crime if, while collecting the money, the person causes injury to another or places that person in fear of injury.
This type of crime is punishable by a fine of up to $10,000 or imprisonment between one and five years, or both.
Don Corleone makes the pizza parlor owner an “offer he can’t refuse” to drop the charges.
That brings to mind other crimes, but that’s a subject for another column.
David Doughty is an attorney with the law firm of Cotton, Bolton, Hoychick & Doughty.
