Even small businesses have to struggle with the complexities of managing peak season opportunities, extending credit and motivating customers.
Take Jonathan Diolosa, an alleged sports bookie from New City in Rockland County.
The business model seems simple. Customers do not have to put up money in advance when they place bets, according to an FBI affidavit. If they lose, they pay the losing bet plus interest that accrues weekly, up to 800% annually.
In March 2019, the NCAA basketball tournament had begun but a Costa Rican betting site had shut down access to Diolosas customers who not paid their debts.
It turns out that one of his difficult customers was a confidential police informant, according to the affidavit. And a local judge had…
Read the full article at: https://westfaironline.com/132550/rockland-mans-debt-collection-methods-run-afoul-of-law/