U.S. Sues Over $48 Million Tied to Racecar Driver Scott Tucker

Scott Tucker.

Photographer: Rick Dole/Getty Images

The U.S. is going after $48 million tied to Ferrari-racing payday loan mogul Scott Tucker, saying he illicitly transferred the funds into bank accounts of three Native American tribes to conceal his ownership and control.

Tucker was accused in February of money-laundering and other charges for allegedly running his businesses, including AMG Services Inc., as a racketeering scheme that charged interest rates of more than 700 percent on payday loans.

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