- Associated Press - Friday, February 12, 2016

ASPEN, Colo. (AP) - Federal authorities are looking to seize the Aspen home of professional racecar driver Scott Tucker, who is accused of running a payday lending operation offering quick cash over the Internet to desperate people.

Tucker was arrested Wednesday in Kansas City, Kansas, on fraud charges in an indictment unsealed in federal court in New York City.

The Aspen Daily News reports (http://bit.ly/1PrfCWH ) that according to court documents, investigators say Tucker used money from the loan operation to purchase the $8 million Aspen home, five Ferraris, four Porsches and Learjet.

Court documents show Tucker and a lawyer also arrested Wednesday exploited over 4 million people in the United States who were struggling to pay basic living expenses. It says the operation charged interest rates as high as 700 percent or more using deceptive and misleading communications and contracts.

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Information from: Aspen Daily News, http://www.aspendailynews.com

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