Feds Might Seize Racing Driver's Aspen Home Due To Alleged Payday Loan Exploitations
ASPEN, Colo. (CBS4) - The feds are looking to seize the Aspen home of a professional race car driver.
Scott Allen Tucker is accused of running a payday lending operation that required customers to pay interest rates much higher than allowed by Colorado law. The interest rates were more than 700 percent.
CBS4 first reported on the investigation back in 2011. Investigators say Tucker used the money to buy his $8 million Aspen home, five Ferraris, four Porsches and a Lear jet.
Court documents show Tucker exploited more than four million people in the United States who were struggling to pay basic living expenses.
