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Scott Tucker Sentenced to 16 Years for prohibited Payday Loan techniques

Scott Tucker Sentenced to 16 Years for prohibited Payday Loan techniques

an bout of the Netflix show Dirty cash takes a glance at Scott Tucker, pay day loan business owner of 500FastCash, Ameriloan, and OneClickCash. On January 5, 2018, Tucker received a 16-year, 8-month jail phrase on federal unlawful prices for running an illegal internet payday lending enterprise.

Scott Tucker of 500FastCash, Ameriloan, OneClickCash

Tucker charged their clients 400 percent to 700 per cent for their loans that are payday. These prices far surpass those permitted by states that control payday financing. But Tucker arranged their organizations under an Oklahoma Indian tribe, perhaps maybe maybe not at the mercy of state legislation. Tucker’s usury, nevertheless, had not been resistant to federal laws and regulations prohibiting practices that are deceptive.

The Dirty Money profile opens using the repossession of Tucker’s racecar that is prized in a notably strange IRS seizure. Racecars are towed up a path that is primrose Tucker’s house “museum.” Tucker made at the least $400 million from their organizations, owned multiple luxury domiciles and a personal jet, and financed a effective race profession. Their wife laments maybe perhaps perhaps maybe not to be able to purchase a motor vehicle, if she would really like, after the IRS seizes a lot of their assets. Continue reading Scott Tucker Sentenced to 16 Years for prohibited Payday Loan techniques