FLORIDA – A former Palm Beach County resident was sentenced Friday to two years for prying on illegal immigrants by charging 180 percent on a $10,000 loan, officials said.
The evidence at trial in September 2009 indicated that defendant, Francisco Aletto, Sr., 60, worked at a pawn shop in Boca Raton, Florida.
An illegal immigrant entered the pawn shop to pawn a gold chain for his gas station business located nearby, according to court evidence.
Instead of accepting the chain as collateral, Aletto loaned the worker $10,000 and charged him $375 interest per week or 180 percent annually, the evidence indicated.
After the worker made several weekly payments, Aletto introduced him to several of Aletto’s friends who subsequently loaned the victim an additional $30,000
After 13 months, the victim paid over $57,000 in interest and lost to Aletto a 2004 Dodge Ram truck on a $3,000 pawn. When the victim was unable to continue to pay the mounting debt, Aletto and his friends threatened to kill him, the court testimony and evidence showed.
Based on information received from a confidential source, the FBI located the victim and prevented him from being harmed.
Four of Aletto’s accomplices have pled guilty and also have been sentenced for their roles in making and collecting extortionate extensions of credit and also have been sentenced for their roles in making and collecting extortionate extensions of credit, the evidence indicated.
The FBI’s Organized Crime Task Force and the Broward Sheriff’s Office investigated this case.