Scott Tucker Sentenced to 16 Years for prohibited cash advance strategies
a episode of the Netflix show Dirty money takes a look into Scott Tucker, advance loan company owner of 500FastCash, Ameriloan, and OneClickCash. On January 5, 2018, Tucker received a 16-year, 8-month prison expression on federal illegal costs for operating an unlawful internet payday enterprise this is certainly lending.
Scott Tucker of 500FastCash, Ameriloan, OneClickCash
Tucker charged their consumers 400 percent to 700 percent because of their loans being payday. These prices far surpass those permitted by states that control payday financing. But Tucker setup their organizations under an Oklahoma Indian tribe, possibly possibly perhaps not subject to state legislation. Tuckers usury, but, was not resistant check this out post right here to federal regulations prohibiting misleading techniques.
The Dirty Money profile opens as a result of the repossession of Tuckers racecar this is certainly prized in a particularly strange irs seizure. Racecars are towed up a course that is primrose Tuckers house museum. Tucker made at the minimum $400 million from their companies, owned numerous luxury domiciles and an individual jet, and financed a powerful competition career. Their wife laments perhaps maybe not to ever manage to buy an auto, if she would love, after the IRS seizes a lot of their assets.
On October 4, 2016 the FTC won a $1.3 billion judgment against Tucker, the greatest litigated judgment ever obtained by the FTC. […]