$2B Payday-Loan Hustle Hid Behind Tribes, Gov't Says

Law360, New York (September 12, 2017, 10:54 PM EDT) -- Federal prosecutors went to trial Tuesday in Manhattan federal court against a racecar driver and a lawyer who allegedly stole $2 billion from consumers in a loan-sharking operation that the two cloaked — for a time — behind Native American tribes’ legal sovereignty.

Loan-servicing entrepreneur and racecar driver Scott Tucker and lawyer Timothy Muir allegedly conspired to swindle payday-loan borrowers by linking up Tucker’s payday-loan businesses, 500FastCash and OneClickCash, with tribes, including the Santee Sioux, the Modoc Tribe of Oklahoma and the Miami Tribe of Oklahoma, none...
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