Former American Le Mans Series champion Scott Tucker was convicted Friday of racketeering charges related to the payday lending business which funded his highly successful Level 5 Motorsports racing team, reports Bloomberg. Predatory loans made by Tucker’s company had interest rates that sometimes exceeded 700…
Level 5 Motorsports’ Scott Tucker and others involved in his payday lending scheme were fined $1.266 billion last October by the Federal Trade Commission for deceptive practices. Tucker’s got to pay the feds off somehow, so everything seized from his race team is going to auction.
Scott Tucker, a man whose Level 5 Motorsports used to bathe in cash thanks to Tucker’s lucrative payday lending business, is already in heaps of trouble for deceiving consumers. Federal prosecutors added four criminal charges of wire fraud and money laundering to that indictment, reports The Kansas City Star.
A federal judge ruled on Friday that former American Le Mans Series champion Scott Tucker, whose indictment said he extended payday loans at interest rates as high as 700 percent, and others involved in the scheme owe the Federal Trade Commission $1.266 billion for systematically deceiving customers.
Indicted former American Le Mans Series champion and payday lending mogul Scott Tucker will no longer be able to tap into his frozen assets to maintain his lavish lifestyle, reports The Kansas City Star. How lavish? Tucker has been living off of $99,000 in the last five months for their many “spa, steakhouse, country…
Scott Tucker went from rookie to champion racer with funds from a wildly lucrative group of payday lending business. But after years of lawsuits and trouble with the Federal Trade Commission, Tucker was arrested today, and a criminal indictment alleges a years-long marathon of illegal lending practices that exploited…
The hammer has finally come down on Scott Tucker, the American Le Mans Series champion and millionaire long dogged by lawsuits and investigations over his payday lending businesses. Tucker was arrested in Kansas today and indicted on federal charges over what is said to be “massive scheme,” according to news reports…
A seemingly well-sourced Bloomberg article has the Manhattan U.S. Attorney Preet Bharara working with the FBI to bring racketeering charges against payday loan mogul/racer/human garbage Scott Tucker.
Two-time American Le Mans Series Champion Scott Tucker and his team Level 5 Motorsports turned a small fortune into checkered flags, but now the Federal Trade Commission is investigating the deceptive business practices that funded his racing dreams.
Scott Tucker used questionable business practices to become a millionaire. Now the mysterious and secretive businessman from Kansas is spending his fortune to become a famous auto racer.
Last week, at the 24 Hours of Le Mans, a rookie from Leawood, Kansas made history. Scott Tucker was the first American allowed to race one of Audi's multimillion-dollar, 200-mph diesel prototypes. Amazingly, he was fast.
The 12 Hours of Sebring is one of the oldest motorsport events in the country, a day-long torture test that takes place on one of the roughest circuits in the world. Amazing glow-in-the-dark eye candy below the jump.