Mexico’s La Familia drug gang, the dominant cartel in Michoacan state, is offering consumer loans, Ovaciones reported.
The criminal organization makes loans against the total value of any assets from the applicant, the Mexico City-based newspaper reported, citing pamphlets said to be from the cartel and interviews with unidentified people.
Loans from La Familia take less than 72 hours to be issued and the debt carries a lower interest rate than banks would give, Ovaciones reported.
Within a week of receiving a loan from La Familia, customers receive a message saying “Thank you for your trust, now you’re part of La Familia Michoacana,” the newspaper said.
Tuesday, September 15, 2009
Mexico's Newest Bankers
Via Mexico Portal via Bloomberg via Ovaciones, this is a bit worrying: