Post by pavel on Feb 11, 2016 1:34:24 GMT -6
Oklahoma tribe agrees to pay $48 million to avoid prosecution in payday lending scheme
Two companies controlled by the Miami Tribe of Oklahoma have agreed to pay $48 million to avoid federal prosecution for their involvement in a lending scheme that charged borrowers interest rates as high as 700 percent.
As part of the Miami tribe's agreement with the federal government, the tribe acknowledged that a tribal representative filed false factual declarations in multiple state court actions.
Federal prosecutors unsealed a criminal indictment Wednesday charging Kansas City Race Car driver Scott Tucker and his lawyer, Timothy Muir, with racketeering charges and violating the Truth in Lending Act for their role in operating the online internet payday lending business.
Tucker and Muir were arrested Wednesday in Kansas City, according to the U.S. Department of Justice.
Read more: newsok.com/oklahoma-tribe-agrees-to-pay-48-million-to-avoid-prosecution-in-payday-lending-scheme/article/5478088
Two companies controlled by the Miami Tribe of Oklahoma have agreed to pay $48 million to avoid federal prosecution for their involvement in a lending scheme that charged borrowers interest rates as high as 700 percent.
As part of the Miami tribe's agreement with the federal government, the tribe acknowledged that a tribal representative filed false factual declarations in multiple state court actions.
Federal prosecutors unsealed a criminal indictment Wednesday charging Kansas City Race Car driver Scott Tucker and his lawyer, Timothy Muir, with racketeering charges and violating the Truth in Lending Act for their role in operating the online internet payday lending business.
Tucker and Muir were arrested Wednesday in Kansas City, according to the U.S. Department of Justice.
Read more: newsok.com/oklahoma-tribe-agrees-to-pay-48-million-to-avoid-prosecution-in-payday-lending-scheme/article/5478088