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Newly appointed Lt. Governor Brian Benjamin stands to make a hefty profit from insider stock he holds in a company that arranges loans with interest rates up to 500% and has been sued repeatedly, THE CITY has learned.
Gov. Kathy Hochul recently tapped Benjamin for her old job after she succeeded Andrew Cuomo, who resigned amid sexual harassment allegations and other scandals.
Benjamin, a Manhattan state senator for the past four years, is set to be sworn into his new role on Thursday.
The Harvard Business School grad got the inside edge via his role as a founding board member of Next Point Acquisition Corp., an investment firm that earlier this year bought the oft-sued California firm LoanMe, records show.
Benjamin resigned from NextPoint’s board in March, but kept his stock. THE CITY estimates that Benjamin could net a hefty $80,000 profit off what appears to be his initial $4,100 investment if he sold the stock tomorrow on the Toronto Stock Exchange where it’s traded.
The California-based LoanMe arranges small personal and business loans for borrowers with troubled credit histories, using banks in states with few restrictions on interest rates. LoanMe borrowers are then on the hook for interest rates of 98% to 500%, plus fees, according to rates in some states posted on the company’s website.
LoanMe does no business in New York because interest rates on most loans are by law capped at 16% per annum. The state considers rates higher than 25% to be criminal.
LoanMe has been sued 33 times in seven states in the last five years, records show. The firm has settled all but two of those lawsuits under terms that remain sealed, records show.
In some suits, consumers charged that LoanMe bombarded them with texts and robo calls pushing them to take out loans. In others, borrowers alleged LoanMe employed similar harassment if they were late with payments.
Some borrowers have also alleged LoanMe reported to credit rating agencies that they still owed money even after they’d paid their debts — an erroneous claim they said destroyed their credit.
38 comments:
This is a non story. The company does no business in NY.
"Manhattan state senator for the past four years"
Boy oh Boy she picked a winner!
That's one down, the whole rest of to go…
This is the government that you, New Yorkers, have voted for for generations, be proud, be happy, enjoy!
Come on, man don't be ridiculous.
Gov.Hochul is too busy attending New York Fashion Week events !
Her pandering to the "Left" cringe-fest has just begun !
New Governor Starting off on a high note! Legal Pot and all...
Her nominees are just a shit test to see how much we'll put up with.
You know She'll just rubber stamp another Marxist wacko for the job...
New York Electurds make the Sheeple fools once again.
Who really made this decision ?
He should be on unemployment instead of having a job in Government !
Was Senator Benjamin chosen to be the Lt. Governor as a way to help highlight how crooked the NYS Legislature really is?
Think Senator Gianaris with his Bill to basically require all employees to wear face masks while working in offices. This Bill was allowed to be passed. It goes against both the NYS Constitution and the U.S. Constitution and may be the first time a law has been passed that negates 1A of the Constitution. It was slipped through as a Labor Law. NYS Senate Bill No. S1034B
These NYS Government transgressions are so blatant:
Could they possibly be a way to help wake people up who are still asleep?
I hope so. If not, we are in big trouble.
One of the Central Park 5 is running to replace Sen. Benjamin.
Yusef Salaam, one of the Central Park 5 and currently a motivational speaker is also known for helping our Mayor paint the BLM mural in front of a sitting President's home. At the time of the Central Park 5 trial, President Trump placed ads in newspapers denouncing the Central Park 5's alleged actions.
What is the purpose of this campaign?
The special election for Sen. Benjamin's seat may be held during the November elections.
I'm not sure she had much of a choice in who was going to be Lt. Governor.
Dems are worried that GOP is going to listen to their constituents. Huh. What a concept...
"A way to help wake people up who are still asleep?"
These people are under demonic influence and most of them don’t even know it.
The behavior of the NYS government is truly disturbing and disgraceful.
Moe said...
Watch what they do, not what they say.
@"Think Senator Gianaris with his Bill to basically require all employees to wear face masks while working in offices. This Bill was allowed to be passed. It goes against both the NYS Constitution and the U.S. Constitution and may be the first time a law has been passed that negates 1A of the Constitution. It was slipped through as a Labor Law. NYS Senate Bill No. S1034B "
This is nonsense for more reasons than I could state here. In fact I did state my reasons before, but it was censored by the moderators.
@These people are under demonic influence...
Good vs. Evil is at play.
It takes a will of iron to shove that television into the elevator and press the down button! Or, throw it out the window.
The inability to realize that it is called programming for a reason is caused by decades of enslavement, victimhood and misery. It is hard to be creative...to do the opposite, when you are basically being drugged by your tv set.
People forget that it is their choice to be happy and to be free. That is our birthright, but we must make it happen. We must choose happiness for ourselves.
Just keep praying that people will continue to wake-up.
Gianaris? He is kept in office by the same group that elected AOC and the other mysteries that now push a party's, not their community's, agenda. They show up to pat the heads of the locals to make them happy that someone notices them.
That part of Queens does not is the sharpest knife in the drawer. But boy oh boy they make great pizza up there so everything is fine in their world.
What more can you ask out of life?
@“ These NYS Government transgressions are so blatant:
Could they possibly be a way to help wake people up who are still asleep?”
Sorry, after reading your fake outrage comment, I fell asleep too,
Biggest divide is between God-fearing and God-less.
Who thinks democrats shouldn’t be able to vote ?
@“ Good vs. Evil is at play.”
Is this the luciferians or the Illuminati?
Personally, I don't care for the anti-christ, Oh I meant Demorats !
“Miss me yet?” ~ Donald J.Trump
@This is nonsense for more reasons than I could state here. In fact I did state my reasons before, but it was censored by the moderators.
Too bad. I can't tell whether you were for or against. Perhaps, you can try again?
@“ Anonymous said...
Biggest divide is between God-fearing and God-less.”
If your god is the one from the Book Of Numbers, keep it away from my kids. Even if his son was the founder of modern day liberalism.
Is this the luciferians or the Illuminati?
Jerky, go to Planet Serpo to find out.
When a "Valley Girl" bartender is the DNC's top fundraiser American politics is a world class joke.
@Valkey Girl
She’s doing a great job. As long as she pisses off traitorous right wing nuts, she has my vote.
"Is this the luciferians or the Illuminati?" Tells us Bozo !
"She has my vote" Who cares about your vote Joker. Are you a retard because you sound cognitively impaired.
@“ Tells us Bozo !”
Hmmm, I’m not sure. It could be the luciferians, then again it could be the Illuminati.
"Just keep praying that people will continue to wake-up"
I have a "liberal" friend who has blindly followed the dem narrative, most recently the voter ID issue in TX, and she and I had a discussion that her beliefs, regardless if they are well-intentioned, she was racist and didn't even know it, bc she's been taught that minorities have issues w/ getting an ID based on their circumstances, bc they struggle with access to internet, etc. I explained that the very core assumption on her belief, really believes that minorities are different, when in reality, we all are the same and in this country we can accomplish anything. It's amazing how college's can change someone's opinion to where they just follow whatever the professor believes.
Nobody satisfied anyone here on Queenscrap.
Run for office if you can pry yourself from your screen.
Armchair complainers!
To last Anonymous who said:
❝Nobody satisfied anyone here on Queenscrap [sic].
Run for office if you can pry yourself from your screen.
Armchair complainers!❞
It doesn't matter who runs in any of the two-party-machine-failed dupoly CULT diseases, when the same dynastic families of elitism are in control. They ALL answer to the same oligarchs of government tyranny, which is how they keep their jobs in Congress, in the Senate and elsewhere, either for their full terms or IN PERPETUITY. The sooner that an indoctrinated, INOCULATED people learn how voting enslaves its subjects from cradle-to-grave, while destroying the illusion of freedoms and democracy of flag and country, then the sooner that one is able to accept the 'Cold Light of Day' realities of a besieged nation under the absolute, totalitarian, culturally Marxist and politically leftist control of extreme oligarchical rule and world domination.
❝There is a whole new generation of these 'WOKE' communists indoctrinated by our Marxist schools. The best way to stop the spread of cultural marxism and political leftism in America’s schools and universities is to totally extricate all levels of government from schooling. Indoctrination by leftist teachers, professors, education bureaucrats, and politicians will destroy America from within (currently in late stage progress)! ❞ ——Anonymous
❝The aim of public education is NOT to spread enlightenment at all, it is simply to reduce as many individuals as possible to the same safe level, to breed and train a standardized citizenry, to put down dissent and originality.❞ ——H. L. Mencken
❝I don't want a nation of thinkers, I want a nation of workers.❞ ——John D. Rockefeller (Created the General Education Board [GED], 1903
❝We learn from history that we do not learn from history.❞ ——Georg Hegel
❝History is a set of lies agreed upon.❞ ——Napoleon
❝History would be something extraordinary—if only it were true.❞ ——Tolstoy
❝The truth that survives is the lie that is pleasantest to believe.❞ ——H. L. Mencken
❝The war is not meant to be won, it is meant to be continuous.❞ ——George Orwell
❝In times of universal deceit, telling the truth is a revolutionary act.❞ ——George Orwell
❝ALL tyrannies rule through fraud and force, but once the fraud has been exposed, they must rely exclusively on force.❞ ——George Orwell
❝The oppressor would not be so strong if he did not have accomplices among the oppressed themselves.❞ ——Simone de Beauvoir
❝Blind belief in authority is truths greatest enemy.❞ ——Albert Einstein
❝The inability to grasp the pathology of our oligarchic rulers is one of our greatest faults.❞ ——Chris Hedges
❝Yes, friends governments in capitalist society are but committees of the rich to manage the affairs of the capitalist class.❞ —James Connolly, 'The War Upon The German Nation,' 1914
❝The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple, the mind is repelled.❞ —John Kenneth Galbraith
❝Laws are created to be followed by the poor. Laws are made by the rich to bring some order to exploitation. The poor are the only law-abiders in history. When the poor make laws—the rich will be no more.❞ —Roque Dalton García
https://www.youtube.com/watch?v=UuMntvVwwWM
https://www.youtube.com/watch?v=iK7FPSFdkEc
https://www.youtube.com/watch?v=rEH349PxIW8
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