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Pot Kingpin Sued by New York for Predatory Loans Charging 1,000%

June 10, 2020, 7:25 PM

Jonathan Braun, a marijuana trafficker turned business-loan impresario, was sued by New York’s attorney general for allegedly cheating small businesses with false promises, threats of violence and interest rates many times the legal limit.

Braun’s firms collected more than $77 million in payments on illegal loans, sometimes charging more than 1,000% interest, according to a civil lawsuit filed Wednesday in Manhattan state court. The filing says he told one borrower, “Be thankful you’re not in New York, because your family would find you floating in the Hudson,” and threatened another, saying, “I will take your daughters from you.”

The U.S. ...