We are not any longer keeping these pages.

When it comes to latest company news and areas data, please check out CNN company

The Justice Department cracked straight straight down on two major payday lending empires Wednesday, including the one that belonged to competition vehicle motorist Scott Tucker.

Tucker is really a 53-year-old financier whom races Ferraris in expert tournaments. He had been arrested on Wednesday, accused of operating an illegal $2 billion payday lending enterprise and hit with federal RICO fees.

From 1997 until 2013, Tucker operated payday financing businesses that provided 4.5 million Us citizens short-term, high-interest loans under “deceitful” circumstances, relating to a federal indictment filed in new york and unsealed Wednesday.

Prosecutors state Tucker cut key handles a indigenous us tribe to make it appear to be the tribe owned their organizations, shielding him from state legal actions and regulators.

Tucker along with his lawyer that is corporate Muir, had been both arrested in Kansas City, Kansas, on Wednesday, based on the FBI.Continue reading→