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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

A bout of the Netflix show Dirty cash takes a review of 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 % for their loans that are payday.

These prices far surpass those allowed by states that regulate payday financing. But Tucker arranged their organizations under an Oklahoma Indian tribe, not at the mercy of state legislation. Tucker’s usury, nonetheless, had not been resistant to federal legislation prohibiting misleading practices.

The Dirty Money profile opens using the repossession of Tucker’s prized racecar cars in a try this site significantly strange IRS seizure. Racecars are towed up a path that is primrose Tucker’s house “museum. ” Tucker made at the very least $400 million from their companies, owned multiple luxury domiciles and a personal jet, and financed a racing career that is successful. Continue reading