Scott Tucker Sentenced to 16 Years for prohibited Payday Loan methods

Scott Tucker Sentenced to 16 Years for prohibited Payday Loan methods

Scott Tucker of 500FastCash, Ameriloan, OneClickCash

Tucker charged their clients 400 percent to 700 per cent for their payday advances. These prices far surpass those allowed by states that regulate payday financing. But Tucker put up their organizations under an Oklahoma Indian tribe, perhaps maybe perhaps not at the mercy of state legislation. Tucker’s usury, nonetheless, wasn’t resistant to federal guidelines prohibiting misleading methods.

The Dirty Money profile opens using the repossession of Tucker’s prized racecar cars in a somewhat strange IRS seizure. Racecars are towed up a primrose course from Tucker’s house “museum.” Tucker made at the very least $400 million from their companies, owned multiple luxury domiciles and an exclusive jet, and financed a racing career that is successful. Their wife laments perhaps maybe not having the ability to obtain a motor automobile, if she would really like, following the IRS seizes lots of their assets.

On October 4, 2016 the FTC won a $1.3 billion judgment against Tucker, the biggest litigated judgment ever acquired by the FTC. Blaine Tucker, Scott’s sibling, committed suicide in 2014. Continue reading “Scott Tucker Sentenced to 16 Years for prohibited Payday Loan methods”