Former Monmouth County Provisional Cop Charged in Lending Scheme
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.