Tribal Lenders Look To Avoid Taint Of Racer's $2B Fraud
By Andrew Westney (October 18, 2017, 3:48 PM EDT) -- The conviction of auto racer Scott Tucker and his attorney on Friday over a $2 billion payday lending fraud paints the tribal lending businesses embroiled in the scheme in a harsh light, ratcheting up pressure on other lending tribes to show their operations are legitimate and have controls in place that could head off a similar mess.
A Manhattan jury found Tucker and attorney Timothy Muir guilty of fraud, money laundering, unlawful debt collection and lying to borrowers as part of a $2 billion criminal empire that tried to shield its high-interest loan practices behind the sovereign immunity of tribal companies...
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