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Scott Tucker Sentenced to 16 Years for prohibited Payday Loan techniques

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

Scott Tucker of 500FastCash, Ameriloan, OneClickCash

Tucker charged their clients 400 percent to 700 % for their pay day loans.

These prices far surpass those allowed by states that control payday financing. But Tucker arranged their organizations under an Oklahoma Indian tribe, maybe not at the mercy of state legislation. Tucker’s usury, but, wasn’t resistant to federal guidelines prohibiting misleading techniques.

The Dirty Money profile opens because of the repossession of Tucker’s racecar that is prized in a notably strange IRS cashnetusa seizure. Racecars are towed up a primrose course from Tucker’s house “museum. ” Tucker made at the very least $400 million from their organizations, owned multiple luxury domiciles and a personal jet, and financed a racing career that is successful. Their wife laments maybe maybe perhaps not to be able to purchase a motor automobile, if she want, following the IRS seizes nearly all their assets.

The largest litigated judgment ever obtained by the FTC on October 4, 2016 the FTC won a $1.3 billion judgment against Tucker. Blaine Tucker, Scott’s cousin, committed suicide in 2014.

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