Level 5 and Scot Tucker in bother
Discussion
Just before Petit le Mans a story broke about the Level 5 motorsport's owner Scot Tucker was in serious trouble for providing payday loans. Today more details have emerged and it appears from what I can gather from the legal documents that they are are charged payday loans via the internet to clients in such states where this is prohibited and to states where they were not registered to do so. They are also accused of having a very complicated repayment and charging structure.
They have advertised that if you take a loan of $300 and pay it back within the stated time you would pay back in total $390. It is alledged that because a charge is applied everytime a repayment was due the sum total was closer to $970.
It also alledged that Mr Tucker transferred more than $40 million dollars from a large number of holding companies to himself to support his racing team and a lavish lifestyle
http://www.winnipegfreepress.com/world/ftc-goes-to...
The team's workshop was closed and padlocked today.
I am not certain that Mr Tucker will be at Le Mans somehow
They have advertised that if you take a loan of $300 and pay it back within the stated time you would pay back in total $390. It is alledged that because a charge is applied everytime a repayment was due the sum total was closer to $970.
It also alledged that Mr Tucker transferred more than $40 million dollars from a large number of holding companies to himself to support his racing team and a lavish lifestyle
http://www.winnipegfreepress.com/world/ftc-goes-to...
The team's workshop was closed and padlocked today.
I am not certain that Mr Tucker will be at Le Mans somehow
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