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Critic likens law firms that pay cash advances to the mob


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#1 Fetch

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Posted 16 May 2018 - 06:39 PM

Critics compared the legal-financing industry to mob loan-sharking and modern-day slavery during a hearing Wednesday into the controversial practice of paying plaintiffs cash in advance against potential lawsuit settlements. Lev Ginsburg of the state Business Council likened interest charges on the advance payments to the “vig” on money borrowed from mobsters, and said some people...

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