KANSAS CITY, Kansas. – Professional race car driver Scott Tucker and his accountant have been indicted on federal charges of failure to report millions in income from a payday loans company that is excluded fraud.
The U. S. attorney’s office in Kansas said Wednesday that Tucker, 55, of Leawood, Kansas, is charged with filing a false return and the auditor, W. Brett Chapin, 46, Shawnee, Kansas, of abetting him.
Tucker is accused of orchestrating a sham sale from a payday loan servicing company to the Miami Tribe, for $120,000. The indictment says Tucker remained in control of the business and a new loan, while others were listed as owners.
The indictment says more than $ 117.5 million in payday loans, income was not reported in the 2009 and 2010 tax returns. Tucker, a former American Le Mans Series champion, used the payday loans money for the funding of the Level 5 Motorsports car racing team.
Two months ago, federal jurors in New York found Tucker and his former lawyer guilty of preying on vulnerable borrowers through a $2 billion payday loan company that charged 700 percent interest or more. Tucker’s lawyers argued that the terms of the loans were known by customers.
That ruling followed a 2016 event in the state of Nevada in which a federal judge ruled that Tucker and others deceived payday loan consumers, and thanked the Federal Trade Commission, about $1.2 billion.
Tucker and Muir face as long as 20 years in prison on the most serious allegations in the New York case. Tucker’s payday loans companies included Ameriloan Cash Advance, One Click Cash, Preferred Cash Loans, United Cash Loans, US FastCash, 500 FastCash, Advantage Cash Services, and Star cash processing.