2 charged in loan-sharking scheme that victimized Delco, Philly residents

Two Philadelphia men were charged this week in connection with their alleged involvement in a loan sharking scheme that victimized people throughout Philadelphia and Delaware counties.

According to Pennsylvania State Police, Frank Scarpato and David Doyle, both 52 years of age, are facing several felonies in connection with the case.

Scarpato, the alleged ringleader, was remanded to the prison in Delaware County on 10 percent of $750,000 bail. Doyle was released on $75,000 unsecured bail.

Investigators from the state police began looking into reported loan sharking by Scarpato in February 2019. The operation was shut down in March but had operated for more than a decade, police said. Over that time, police alleged that Scarpato had loaned out hundreds of thousands of dollars to dozens of victims and then used threats and harassment for them to make regular payments to him. Doyle helped by collecting the payments, according to the charges.

Through the use of an informant, police were able to obtain a warrant to search Scarpato’s home in Philadelphia. Handguns, more than $10,000 in cash and financial records were found in the search.

Police also reported finding notebooks with loan information. In a majority of the loans, the victims were required to make 26 weekly payments with a 56 percent interest rate.

Both men were taken into custody Feb. 25 and arraigned by District Magisterial Judge Wendy Roberts in Glen Mills.

Scarpato is facing numerous felony charges, including corrupt organizations, terroristic threats, theft by extortion and other charges. Doyle was charged with corrupt organizations, making terroristic threats and theft by extortion.

Both are due back in court in March for their preliminary hearings.