Where Is Scott Tucker Now?

Pinterest LinkedIn Tumblr

Scott Tucker is an American convicted racketeer, loan shark, fraudster, and money launderer who used his illegal funds to finance – and drive for – his own sports car endurance racing team.

In 1991, Scott Tucker was convicted for his illegal activities, including mail fraud, associated with a bogus lending company he operated, Chase, Morgan, Stearns & Lloyd, which he falsely claimed was associated with each of the four major banks whose names he included in the name of the company. He served one year in prison for this.

In 2001, Scott founded an online business, AMG Services, that made payday loans even in states where these high-interest, low-principal loans were restricted or illegal. This business, which generated over $3.5 billion in revenue from just 2008 to June 2013, ultimately made loans to at least 4.5 million Americans.

When state regulators tried to shut down his operations, he made deals with Native American tribes to claim ownership of his business and invoke sovereign immunity from state courts.

In February 2016, Scott was arrested and indicted on federal criminal charges filed in the U.S. District Court for the Southern District of New York in relation to his ownership and controlling role in various payday lending operations that were found to have charged illegal interest rates in violation of RICO and TILA statutes.

He was convicted of making illegal payday loans and of racketeering in October 2017. Scott is currently serving a sentence of 16 years and 8 months in federal prison.

Scott began his racing career in 2006, most notably competing in the American Le Mans Series, and United SportsCar Championship for his Level 5 Motorsports.

Where Is Scott Tucker Now?

Scott Tucker is now serving a sentence of 16 years 8 months in federal prison, and his lawyer Tim Muir is serving a sentence of 7 years. Tucker is scheduled for release from prison on March 4, 2032.

Source: Vimbuzz.com

Write A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.