KANSAS CITY, Mo. (AP) _ A federal judge has ruled that professional racecar driver Scott Tucker and others deceived payday loan consumers and owe the Federal Trade Commission about $1.2 billion.
The Kansas City Star reports that the commission brought charges against Scott Tucker, of Leawood, Kansas, and others on claims that their payday loan operations charged exorbitant interest rates.
U.S. District Court of Nevada Judge Gloria Navarro issued a judgment Friday that found consumers of Tucker’s payday loan businesses were harmed because of misleading loan terms.
Tucker denied wrongdoing in the case. He also has pleaded not guilty to criminal exploitation charges and is scheduled for trial in April.
The Associated Press sent an email early Monday seeking comment from an attorney for two lending companies with ties to Tucker.