State Police Break Up Delco, Philly Loan Shark Operation

DELAWARE COUNTY, PA — Two Philadelphia men are facing numerous felony charges in connection with a loan shark operation they ran for 10 years, according to authorities.

Pennsylvania State Police said Frank Scarpato and David Doyle, both 52 years old and of Philadelphia, were arrested Tuesday by Pennsylvania State Police troopers and charged with felony extortion, running a corrupt organization, stalking, terroristic threats, and related crimes.

Scrapato is accused of running a loan shark operation in Delaware County and Philadelphia for 10 years, according to state police. Doyle is alleged to have collected payments for Scarpato, state police said.

In February 2019, police began investigating the loan sharking business, and eventually were able to execute a search warrant at Scarpato's home.

During the search, police found more than $10,000 in cash, bank records, four handguns, and notebooks with records on who owed money to Scarpato, according to state police.

Police said Scarpato would give out 26-week loans and after the 26 weeks would impose a 56 percent interest rate over a 6-month period.

With those loans, police said no principal amount was paid down and the weekly interest payments were made weekly.

Police allege Scarpato would use threats of violence and persistent harassment to get his debtors to pay him.

Scarpato was held after failing to post 10 percent of $750,000 bail. Doyle was released on $75,000 unsecured bail.

Both are scheduled for March 12 preliminary hearings.