10. Billionaire Prepares for Prison: Scott Tucker, Episode 1

Billionaire Going to Prison

Scott Tucker Built the Payday Lending Industry. He started in this industry back in the mid 1990s. From scratch, he put a team together that resulted in his generating billions of dollars in revenues.

Despite his efforts to live as a legitimate businessman, the authorities went after Scott. He has been battled in courts for decades. But in 2016, decisions started to go against him. He found big financial troubles when the Federal Trade Commission levied a fine of more than $1 billion. The troubles didn't stop there.

In early 2017, the federal government indicted Scott for violating a series of federal crimes. Those crimes included fraud and violations of the truth in lending act.

As a result of his losing the judgment against the FTC, a judge froze all of Scott's assets. They even seized more than $30 million that he put in trust accounts to pay his legal fees.

Without financial resources, the court appointed a team of attorneys from the public defenders panel t represent him. After eight weeks of trial, a jury convicted Scott on all counts. The jury rendered its decision after deliberating for only a few hours.

As a result of the conviction, Scott faces decades in federal prison.

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