Jay McGraw, son of famed daytime talk show host “Dr. Phil” McGraw, reportedly profited handsomely from a lending business targeting low-income people with high-interest loans, some with interest rates as high as 700 percent.
Jay McGraw, a successful TV producer, was once listed as president and secretary of a company called CreditServe, which helps arrange small, high-interest loans through a company owned by a Native American tribe in Alaska, according to records obtained by an investigation from ProPublica and the Anchorage Daily News.
