The testimony of Hialeah Mayor Carlos Hernandez in federal court has opened a window into the city’s years-long shadow banking industry.
By Patricia Mazzei and Jay Weaver
Article Reprint
(Florida) A big-city mayor took the stand in Miami federal court last week and admitted he charged exorbitant, illegal interest rates to a Hialeah businessman — Florida law calls it “loan-sharking” — which he failed to report as income on his tax returns.