Peabody Man Charged With Loansharking, Reports U.S. Attorney

Apr 13, 2001, 01:00 ET from U.S. Attorney

    BOSTON, April 13 /PRNewswire/ -- A Peabody man was charged recently in
 federal court with loan sharking.
     United States Attorney Donald K. Stern announced the filing of a one-count
 information on Tuesday, April 10, 2001, against PETER GAMACHE, age 40, of 23
 Greenwood Road in Peabody, Massachusetts, on loansharking charges in
 connection with GAMACHE's attempts to collect a gambling debt from a victim
 who had sporting bets with GAMACHE.
     The information alleges that between January and November 2000, GAMACHE
 participated in the use of extortionate means to collect and to attempt to
 collect an extension of credit.  The extension of credit at issue in the
 information is a gambling debt of approximately $25,000 that the victim had
 owed GAMACHE.
     The maximum penalties for the crime with which GAMACHE is charged are 20
 years' imprisonment, three years' supervised release, and a $250,000 fine.
     The case was investigated by the Federal Bureau of Investigation and is
 being prosecuted by Assistant U.S. Attorney Cynthia A. Young of Stern's
 Organized Crime Strike Force Unit.
 
 

SOURCE U.S. Attorney
    BOSTON, April 13 /PRNewswire/ -- A Peabody man was charged recently in
 federal court with loan sharking.
     United States Attorney Donald K. Stern announced the filing of a one-count
 information on Tuesday, April 10, 2001, against PETER GAMACHE, age 40, of 23
 Greenwood Road in Peabody, Massachusetts, on loansharking charges in
 connection with GAMACHE's attempts to collect a gambling debt from a victim
 who had sporting bets with GAMACHE.
     The information alleges that between January and November 2000, GAMACHE
 participated in the use of extortionate means to collect and to attempt to
 collect an extension of credit.  The extension of credit at issue in the
 information is a gambling debt of approximately $25,000 that the victim had
 owed GAMACHE.
     The maximum penalties for the crime with which GAMACHE is charged are 20
 years' imprisonment, three years' supervised release, and a $250,000 fine.
     The case was investigated by the Federal Bureau of Investigation and is
 being prosecuted by Assistant U.S. Attorney Cynthia A. Young of Stern's
 Organized Crime Strike Force Unit.
 
 SOURCE  U.S. Attorney