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Jury convicts race-car motorist, part-time Aspen resident, of predatory lending

Mittwoch, November 18th, 2020

Jury convicts race-car motorist, part-time Aspen resident, of predatory lending

Rick Carroll

A race-car motorist whom used ill-gotten gains by way of a payday-lending scheme to purchase an Aspen home ended up being discovered responsible by way of a jury in nyc for participating in predatory financing methods that charged borrowers interest rates because high as 700 %.

A declaration granted by the U.S. Attorney’s workplace for the Southern District of the latest York stated a jury convicted Scott Tucker, 55, on all 14 counts brought against him carrying out a trial that is five-week Manhattan. Additionally convicted regarding the charges that are same Tucker’s company associate and lawyer Timothy Muir, 46. Both come from Kansas.

“As an unanimous jury discovered today, Scott Tucker and Timothy Muir targeted and exploited scores of struggling, everyday Americans by charging you them illegally high rates of interest on pay day loans, up to 700 %,” Acting Manhattan U.S. Attorney Joon H. Kim stated in a declaration released Friday. “Tucker and Muir desired to obtain away making use of their crimes by claiming that this $3.5 billion company had been really owned and operated by Native American tribes. But that has been a lie. The jury saw through Tucker and Muir’s lies and saw their company for just what it absolutely was — an unlawful and scheme that is predatory just just just simply take callous benefit of susceptible employees residing from paycheck to paycheck.”

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