Broker-Dealer Admits It Ignored Signs Of Scott Tucker's Fraud
By Jody Godoy (December 19, 2018, 9:56 PM EST) -- A broker-dealer in Kansas has admitted to overlooking red flags in millions of dollars in transactions for Scott Tucker, the pro race car driver turned payday loan fraudster, and entered a deferred prosecution agreement with Manhattan federal prosecutors.
As part of the deal, Central States Capital Markets LLC agreed to pay $400,000 in a forfeiture action filed on Wednesday. Tucker and his attorney Timothy Muir were convicted in 2017 after a jury heard the pair used business relationships with Native American tribes to hide a $2 billion fraud.
U.S. Attorney Geoffrey Berman said in a statement that CSCM is the first broker-dealer...
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