The family to whom the loan was made by LawCash were attending court after filing a $150 million lawsuit for the wrongful death of a relative. Art dealer, Ousmane Zongo, was shot to death in 2003 by a police officer, and it is his widow and brothers that have filed the wrongful death suit and are attending court. LawCash has made an advance to the family after costs began to build up.
The African family was experiencing financial trouble with the costs of flying over to attend the trial mounting up. After a manslaughter trial against the office that shot the art dealer concluded with a hung jury, the family had even higher sums of money to find in order to return for further proceedings. This is where LawCore stepped in and made the excessively high interest loan to the family.
The judge has stated that such firms must be regulated in order to stop plaintiffs that are already expereicing financial troubles from getting into even more of a financial mess through being charged such high rates.
Topic Added May 6th, 2005
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