BREAKING: ALMS Champion Scott Tucker Arrested
As Reuters reports, millionaire racer and four-time American Le Mans Series champion Scott Tucker has been arrested by the FBI on Wednesday. The arrest is a result of an investigation that followed the 2012 lawsuit by the Federal Trade Commission. Tucker was accused of organizing a scheme to deceive payday lending customers. The arrest was confirmed by Kelly Langmesser, a spokeswoman for the Federal Bureau of Investigation.
Tucker’s business reportedly overpaid for years on their short-term, high-interest, high fee loans which ultimately financed his team called Level 5 Motorsports. The report of investigation on Tucker first came from Reuters in May 2014 after AMG Services (not related to Mercedes-Benz AMG) received a grand jury subpoena.
In January 2015, FTC obtained $25.5 million in settlements with several entities including AMG Services, which was the largest recovery so far in a payday lending case. However, as a conclusion of the investigation, FTC now demands more money from Tucker.
We will keep you updated.