Four exotic sports cars seized from convicted payday lender Scott Tucker to be auctioned off in order to return additional money to victims of Tucker’s scheme

 

Date: January 15, 2020

Contact: newsroom@ci.irs.gov

Four exotic sport and track cars seized from convicted payday lender Scott Tucker will be auctioned off on February 5, 2020. The cars were seized from and forfeited by Tucker in connection with his convictions for operating a $3.5 billion unlawful internet payday lending enterprise that systematically evaded state laws for over 15 years in order to charge illegal interest rates as high as 1000% on loans. Tucker and his convicted co-defendant, Timothy Muir, an attorney, lied to millions of customers regarding the true cost of their loans to defraud them out of hundreds, and in some cases, thousands of dollars each. Further, as part of their multi-year effort to evade law enforcement, the defendants formed sham relationships with Native American tribes and laundered the billions of dollars they took from their customers through nominally tribal bank accounts to hide 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, many of whom were struggling to pay basic living expenses.

On October 13, 2017, Tucker and Muir were convicted 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.