4 sports cars seized from payday lender Scott Tucker
Geoffrey S. Berman, the United States Attorney for the Southern District of New York, announced that four exotic sports and track cars seized from convicted payday lender SCOTT TUCKER will be auctioned on February 5, 2020. The cars were seized and forfeited by TUCKER as part of his convictions for operating an illegal $3.5 billion Internet-based payday loan business that systematically circumvented state laws for more than 15 years in order to charge illegal interest rates of up to 1000% on loans. Tucker and his convicted co-defendant, TIMOTHY MUIR, an attorney, lied to millions of clients about the true cost of their loans to defraud them out of hundreds, and in some cases, thousands of dollars each. Additionally, as part of their multi-year effort to evade law enforcement, the defendants formed fictitious relationships with Native American tribes and laundered the billions of dollars they took from their clients through accounts. tribal banking to conceal TUCKER’s ownership and control of the business. TUCKER’s fraudulent loans were issued to more than 4.5 million people in all fifty states, including more than 250,000 people in New York City, many of whom struggled to pay basic living expenses.
US Attorney Geoffrey S. Berman said, “The auction of convicted payday loan fraudster Scott Tucker’s four exotic cars is significant. The Ferrari and Porsche supercars offered for sale are just the most visible and garish signs of Tucker’s greed, luxury toys bought with stolen money from victims who often lived hand to mouth, people who took out payday loans to buy food for their family or pay medical bills. We hope this auction will generate enough revenue to at least partially compensate the victims of Tucker’s multi-billion dollar fraudulent scheme. This Office will continue to aggressively seek compensation for victims of predatory criminals.
The car auction will include a rare 2011 Ferrari 599 SA Aperta which is one of only 80 such cars ever made (pictured above), a 700 horsepower 2011 Ferrari 599xx track car, as well as two Porsche Supercars , a 2011 Porsche 911 GT2 RS and a 2005 Porsche Carrera GT.
The in-person and simulcast auction will take place at the world-class Motorsports Circuit of the Americas on February 5, 2020. Details of the auction, including videos of each car, can be found at https: //www.cwsmarketing.com/?p=9739. Proceeds from the sale of the cars will be pooled with monies recovered by the Federal Trade Commission (“FTC”), which successfully brought a related civil lawsuit against TUCKER and various entities involved in the illegal payday loan scheme, and distributed to victims by the FTC. Victims seeking relief are encouraged to visit www.ftc.gov/amg for up-to-date information regarding the FTC’s relief program and to sign up to receive email updates. To date, over $500 million has been returned to victims of TUCKER’s crimes.
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On October 13, 2017, TUCKER and MUIR were found guilty on all fourteen counts against them after a five-week jury trial before U.S. District Judge P. Kevin Castel. On January 5, 2018, TUCKER was sentenced to 200 months in prison and MUIR was sentenced to 84 months in prison.
Mr. Berman praised the outstanding investigative work of the St. Louis local office of the Internal Revenue Service, Criminal Investigation. Berman also thanked criminal investigators from the United States Attorney’s Office, the Federal Bureau of Investigation and the FTC for their assistance in the case.
The prosecution is being handled by the Bureau’s Complex Fraud and Cybercrime Unit. Assistant U.S. Attorneys Sagar K. Ravi and Hagan Scotten, and are in charge of the prosecution.