An episode of the Netflix show Dirty cash has a consider Scott Tucker, payday loan business owner of 500FastCash, Ameriloan, and OneClickCash. On January 5, 2018, Tucker received a 16-year, 8-month jail sentence on federal unlawful costs for running an unlawful internet payday enterprise that is lending.
Scott Tucker of 500FastCash, Ameriloan, OneClickCash
Tucker charged his customers 400 percent to 700 percent for his pay day loans. These prices far surpass those permitted by states that control payday financing. But Tucker create his organizations under an Oklahoma Indian tribe, not subject to state law. Tucker’s usury, nevertheless, was not immune to federal rules prohibiting practices that are deceptive. The Dirty Money profile opens with the repossession of Tucker’s racecar that is prized in a notably strange IRS seizure. Racecars are towed up a primrose course from Tucker’s house “museum.” Tucker made at least $400 million from their organizations, owned multiple luxury homes and a personal jet, and financed a racing career that is successful. His wife laments perhaps not being able to buy a motor car, if she’d like, after the IRS seizes many of their assets. (more…)