Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Judge denies payday loan mogul's plea to keep living on $8,000 a month


Scott Tucker, a Leawood payday loan businessman who is fighting civil and criminal legal battles against the federal government, cannot tap into frozen assets to pay for monthly living expenses, a judge has ruled.

Gloria Navarro, chief judge for the U.S. District of Nevada, denied Tucker’s request to continue living on $8,000 a month.

Tucker is under an extensive asset freeze stemming from a civil lawsuit that the Federal Trade Commission filed against him in 2012. The FTC accused Tucker and others of running a payday lending enterprise that extended short-term loans that charged undisclosed and improper fees. It also said Tucker affiliated his businesses with Native American tribes, which are not subject to state regulations on interest rates for payday loans.

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