He has been arrested and charged with several counts of Usury. Victims who took out loans were charged exorbitant interest rates amounting to 120% annually. The maximum annual rate allowed under state law is 30%. Lopes-Ferreira also held victim’s belongings such as jewelry and passports as collateral, refusing to return them until their loans were paid in full.
Lopes-Ferreira was previously employed by the Long Branch Police Department under a special classification for officers who are not fully sworn in but work on a provisional basis. The investigation found that this criminal activity began while he was still working for the police department.
