A former Philadelphia Police officer has been charged with extortion for allegedly operating a loan-sharking business that took advantage of at least one fellow officer, reports the FBI.
Gary Cottrell, a former 14th District officer, allegedly made high-interest loans to Cheryl L. Stephens, an active 18th District officer. Cottrell, 46, has been charged with four counts of making an extortionate extension of credit, four counts of collecting an extension of credit by extortionate means, and eight counts of obstruction. Stephens, 46, has been charged with two counts of making false statements to the grand jury.
