PHILADELPHIA — A class-action lawsuit was filed June 29 against two financial services companies and several individual defendants, citing alleged fraud and unjust enrichment.
Lead plaintiffs Christina Williams and Michael Stermel filed a complaint in the U.S. District Court for the Eastern District of Pennsylvania against MacFarlane Group Inc., Medley Opportunity Fund II LP, Mark Curry, Brian McGowan, Vincent Ney and other John Doe for defendants for alleged violations of the Pennsylvania Consumer Discount Company Act.
According to the complaint, Williams and Stermel, along with other Pennsylvania citizens entered into a payday loan agreement offered by the defendants on the internet. However, the plaintiffs claim they were victimized by predatory lending practices because they were allegedly assigned 400 to 700 percent interest rates.
Williams and Stermel also claims the defendants used their affiliations with Native American tribal corporations to evade state licensing, usury and consumer protection laws and allegedly to continue the illegal activity.
The plaintiffs said the defendants allegedly made illegal loans and collected debt at more than 80 to 100 times the interest rate set by Pennsylvania's usury laws.
The plaintiffs request a trial by jury and seek declaratory and injunctive relief, monetary damages, attorneys' fees, litigation expenses, costs and other relief the court deems proper. They are represented by Michael Quirk of Berezofsky Law Group, LLC in Philadelphia.
U.S. District Court for the Eastern District of Pennsylvania case number 2:18-cv-02747-MSG