from: http://www.kwtv.com/investigators/sharks1.htm ---- SHARKS IN THE SHADOWS News 9 Lead Investigative Reporter Chris Halsne airdate: 2.8.99 Oklahoma politicians accepting donations from organized crime associates. That's the focus of an exclusive News 9 investigation. Some Oklahoma House members accepted the contributions about the same time they passed a committee bill that would have legalized a type of loan sharking. The money went to lawmakers on the House Banking and Finance Committee. At least half the members of that committee -- ten of them -- accepted money connected to an out-of-state company called Title Loans of America. Documents uncovered by News 9 show that particular business has ties to organized crime. The bill would have opened the door for one company to make millions off Oklahoma consumers by charging interest rates around 240 percent. The Investigation begins in Atlanta. Quick-cash car title loans are illegal in Oklahoma, but Title Loans of America (TLA) in Atlanta makes no secret it's desire to change that. In a growing number of states TLA finances at 14 to 20 percent per month (240% a year) on certain loans, while putting a clients car at risk of repossession. Consumer advocates hate the idea. "It's just a dirty business," says Consumer Attorney Gerard Lupa. "A dirty operation and it just brings more misery than relief to anybody." William Brennen with the Atlanta Legal Aid Society says they (TLA) are in fact loan sharks. "Ripping people off and extracting tremendous penalties if they don't pay," he adds. But unlike the underworld loan sharks of the past, Title Loans of America doesn't have to extract high interest rates by force. It's taking the modern political highway to legalize it's fees. Lawmakers like Robert Weaver are there to help. As Chair of the powerful Oklahoma House Banking and Finance Committee, Weaver sponsored a car title loan bill last session. Weaver let TLA write the bill and invited the company president to fly up from Georgia to speak to the Banking Committee just hours before it's "yes" vote. Later that day, Weaver accepted a $1,000 donation tied to the bill. "Did Title Loans of America buy access with you," Lead Investigator Chris Halsne asked Weaver. "I've already agreed to vote for the bill if I'm going to carry it, right?" Weaver responded. "So, it's not unusual for somebody who carries a piece of legislation would have a contribution from the guy pushing that legislation," he continued. Seven others on the Banking Committee voted "yes" and accepted contributions tied to the Atlanta company. Representatives Blackburn, Hastings, Key, Kinnamon, Matlock, Morgan, and Roberts. Two more, Adkins and Pettigrew, took money but didn't vote for the bill. Ties to organized crime Questions about buying access pale in comparison to what News 9 uncovered. Reputed organized crime figure Alvin Malnik of Boca Raton, Florida is co-owner of Title Loans of America. Federal and state documents uncovered by News 9 show Malnik worked for New Jersey Mafia boss Meyer Lansky, mostly financing real estate deals. The Investigators' Chris showed the evidence to Representative Weaver. "To be involved in organized criminal activity," he responded, "that's pretty specific... along with Jimmy Hoffa?" Halsne then asked Weaver, "If Title Loans of America gives a political contribution, isn't that money partly organized crime money?" Rep. Weaver said it would be difficult under the information presented by the Investigators. "It would be a difficult sell to get title loans passed anytime in the near future," he said. William Brennen, a national expert on "fringe banking," says Oklahoma politicians are selling out constituents. Chris Halsne asked Brennen if there was a clear tie between the industry and contributions to politicians and laws that help these exorbitant fees be created. "Not only do I think there are ties," says Brennen, "but I think the local district attorneys out to be investigating these elected representatives for bribes." Chris Halsne called and left messages for organized crime associate Alvin Malnik at several of his businesses, including the popular Forge Restaurant in South Miami Beach Florida. He didn't return the calls. Neither did any of the other owners of Title Loans of America. Part 2: How it's already legal to charge interest rates of 240 percent on some small cash loans. The Investigators | Home | Search | News | Weather | Sports | | TowerCam | Doppler 9000XL ----- Aloha, He'Ping, Om, Shalom, Salaam. Em Hotep, Peace Be, All My Relations. Omnia Bona Bonis, Adieu, Adios, Aloha. Amen. 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