Leawood pro race driver indicted for hiding millions earned at payday loan businesses

Leawood’s Scott Tucker, who raced high-end sports cars in competitions in North America and Europe, was charged with a single count of filing a false tax return. (Scott-Tucker.Weebly.com)

A professional race car driver from Leawood was indicted Wednesday for a scheme to avoid reporting millions of dollars in income from payday lending companies, federal prosecutors said.

 

Scott Tucker, who raced high-end sports cars in competitions in North America and Europe, was charged with a single count of filing a false tax return. Accountant Brett Chapin, of Shawnee, was charged with aiding in the filing of a false tax return.

Federal prosecutors said Tucker claimed to have sold CLK Management in 2008 to the Miami tribe. In reality, Tucker retained control of CLK and an associated entity, AMG Services. Tucker was the source of funds being loaned and bore the risk of loans not repaid.

His businesses included Ameriloan, Cash Advance, One Click Cash, Preferred Cash Loans, United Cash Loans, US FastCash, 500 FastCash, Advantage Cash Services and Star Cash Processing.

Chapin was the certified public accountant who prepared Tucker’s tax returns in 2008, 2009, 2010 and 2011. The 2008 return failed to report $42.5 million in payday lending income. Tucker’s 2010 return didn’t disclose $75 million in income.

Conviction on the charges carries a penalty of up to three years in prison and a fine of $250,000.

In October, Tucker was convicted after a trial in New York City on more than a dozen criminal charges, including racketeering, related to his online payday lending enterprise. Prosecutors said the business relied on deceptive loan terms and outrageous interest rates to rip off 4.5 million customers. He was found guilty with Timothy Muir, an Overland Park attorney who worked with Tucker.

Both are scheduled for sentencing in January for what prosecutors in New York said was an operation that targeted everyday Americans with illegal loans that assessed interest rates as high as 700 percent. To avoid state regulations on payday lending, the businesses were falsely portrayed as being owned and operated by Native American tribes in Oklahoma and Nebraska.

Federal prosecutors offered evidence at trial the businesses were primarily managed from an Overland Park office.

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