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Tucker is estimated to have acquired $380 million from his payday loan Group, which exploited Indigenous American sovereign immunity laws being a loophole through which to supply payday financial loans in states through which They may be unlawful. Working below names like Ameriloan, Cash Advance, One particular Click on Cash, United Cash Financial loans and 500 FastCash, Tucker's Group used about 600 persons and designed financial loans with phrases that bundled renewals and fees and curiosity fees as high as seven hundred% a year. Many these financial loans have been issued to minimal-income people today.[seventeen]
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Scott Tucker (born May well 5, 1962) is definitely an American convicted racketeer, loan shark, fraudster and income launderer who made use of his illegal funds to finance – and drive for – his individual athletics vehicle endurance racing team.
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