People v. Schwartz

The appellants have been convicted of the crime of conspiracy to falsify books, reports and statements of a corporation which is subject to the Banking Law, and of three crimes of forgery in the third degree. The record discloses an elaborate scheme to defeat the usury laws and collect excessive amounts of interest by devious methods.

The indictment covered the period November 1, 1935, to March 1,1940. The basic charge is that the conspirators caused to be made many usurious loans by exacting from borrowers, sums of money in the guise of insurance premiums. in excess of the charges permitted…