You say you like to drive fast? I mean really, really, unreasonably fast?
Scott Tucker too. Fast enough, in fact, to have had success on multiple racetracks as a driver and team owner, largely funded by his payday loan business.
On February 5, four of Tucker’s cars will be available for auction. Tucker, 57, won’t be driving for a while. Until, oh, around June 27, 2032. That’s the date of his release from a 200-month federal prison sentence resulting from his payday loan business shenanigans.
Tucker was convicted in 2017 of racketeering, wire fraud, money laundering and a violation of the Truth in Lending Act. But, on the plus side, no speeding tickets. When he was sentenced in January 2018, authorities said he had “systematically evaded state laws for more than 15 years in order to charge illegal interest rates of up to 1,000% on loans” .
On sentencing, US District Judge P. Kevin Castel of New York City classified Tucker’s crimes as “a scheme to extract money from people in desperate circumstances” and something that “created violence. heartache and grief… not just financial loss ”.
A civil lawsuit filed by the Federal Trade Commission said Tucker’s payday lending business used “deceptive and unfair payday lending and debt collection practices that targeted cash-strapped customers.”
Bottom line: In addition to the prison sentence, Tucker was hit with a record judgment of $ 1.3 billion. So the federal authorities, as is their custom, sold Tucker’s assets to cover trial and direct restitution to his victims.
This is where you can simultaneously do your part for justice and satisfy your need for speed. Such a deal.
According to the recent announcement: “IRS-Criminal Investigation, AECOM and CWS Marketing Group are auctioning four seized exotic sports and track cars on February 5, 2020 in Austin, TX. These highly desirable automobiles are among the assets. seized by IRS-CI in connection with the case against payday loan mogul and amateur racing driver Scott Tucker. “
You may know Tucker from the 2018 episode “Payday” of the Netflix series “Dirty Money”.
“Behind the lavish lifestyle of racing driver Scott Tucker lies a secret lending empire built on tribal benefits and the profits of poor clients,” says the promo,
Eleven other Tucker cars, including five Ferraris, as well as other auto-related assets, were auctioned in 2017. The four to be auctioned on February 5 at the Circuit of the Americas will thrill car enthusiasts up to ‘to their wheel nuts. Back to the announcement:
“The auction will include a rare 2011 Ferrari 599 SA Aperta with 229 miles, a 2011 Ferrari 599xx with 700 horsepower, as well as two Porsche supercars; a 2011 Porsche 911 GT2 RS and a very large collection 2005 Porsche Carrera GT.
“The incredibly rare Ferrari Aperta leads the line-up, being one of 80 manufactured. The 80 produced were all originally sold before production even began, ensuring that exceptionally low mileage, beauty of the spirit is high on the lists of Ferrari collectors. “
The Ferrari Aperta’s spec list is impressive, although my favorite is “Original Factory Radio”. And we are told that the “Fiorano Lap Time” for the Ferrari 599xx is one minute, 16 seconds. It seems fast. The Fiorano Circuit is Ferrari’s private course near Maranello, Italy.
And it generates 280 kg of downforce at 22 km / h. Just sounds energetic.
The next auction has caught the attention of the automotive press.
“You know what sucks? Classiccars.com asked. “Being in jail. You know what’s worse? Being once a person of unlimited means, now in jail, and watching your dear collection of cars being auctioned off. For former racing driver and convicted racketeer Scott Tucker, that could be a punitive act perhaps worse than death. “
I do not know. Seems to me that a guy who scams people through payday loans might deserve something worse. So you can do your part for the punishment by checking your checkbook and checking out those cars.
You know you want one or all of them. Me too, but my garage is full.
We can see the cars at Austin’s Ferrari, 6201 S. Interstate 35, from 10 am to 3 pm on February 4th. 2:30 p.m. (Maybe we can also hear Ferrari’s original factory radio.) You can also check out the cars at COTA between 4:00 p.m. and 6:00 p.m. on February 5. The auction is set for 7:30 p.m.
To bid you will need to submit a refundable security deposit of $ 25,000.
You can see videos of each of the cars at cwsmarketing.com. You can bid in person or online. Details are also available on this website.
And call me when you’re ready to come show me what you bought.