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 review of Scott Tucker, cash advance business owner of 500FastCash, Ameriloan, and OneClickCash. On January 5, 2018, Tucker received a 16-year, 8-month prison phrase on federal unlawful prices for running an illegal internet payday lending enterprise.

Scott Tucker of 500FastCash, Ameriloan, OneClickCash

Tucker charged their customers 400 percent to 700 % for their loans that are payday.

These prices far surpass those allowed by states that regulate payday financing. But Tucker put up their organizations under an Oklahoma Indian tribe, perhaps maybe perhaps maybe not susceptible to state legislation. Tucker’s usury, but, wasn’t resistant to federal regulations prohibiting practices that are deceptive.

The Dirty Money profile opens using the repossession of Tucker’s prized racecar cars in a significantly strange IRS 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 effective race profession. View More Scott Tucker Sentenced to 16 Years for prohibited Payday Loan techniques