With the reports of 4.5 million victims, charging each multiple hundreds of dollars fraudulently, then it’s easy to see the bulk of that 3.5 billion penalty is just recovering the amount deceptively charged. Of course, even if they only fined him $200 per victim, he still doesn’t have $900M to pay anyway, since most…

He wasn’t within the rules. According to the Truth In Lending Act, his disclosures were materially deceptive. That’s on top of other illegal activities (btw, he went to prison once before for mail fraud, so this isn’t his first act of deception).

I think the TILA disclosure alone likely would have kept him out of prison. That was the whole reason it was so lucrative, and why it was predatory instead of, as Tucker likes to say, a valuable service.

Tribal sovereignty theoretically shielded him from State ursory regulations that prohibited payday lending (and even then, employees were not on the reservation and were instructed to lie about their location).

I think that’s quite accurate, but it still doesn’t mean it was in the WEC’s best interests.

FIA still jointly manages the technical and sporting regs of the series as half of the FIA Endurance Committee. But they’re generally not running the day to day of any of these series, the various promoters are.

I’m not sure Alonso requested this. I think Toyota requested it because of him.

LMEM who run the WEC are a subsidiary of the ACO.

And Eve. But yeah, pretty standard operating procedure, especially for a game with a monthly fee.

That’s the reason I dislike Gimmi Bruni, the 2012 Sebring 12 Hours.

They were intentional in ARCA though.

Jake contacted the stewards, and they responded quickly.

There’s a sucker born every minute, if you don’t read the fine print, or like or understand or agree with the terms of a contract, then don’t fucking sign it.

I disagree. It was very unlike the Mayfield episode which showed humanity.

Nope, the third brother committed suicide, whole Joel is in trouble for running a scheme where he pretended to be selling derivatives based on Scott’s loans.

What the documentary doesn’t show is how many people actually understood what they signed up for, played by terms of the loan, and maybe went back for another loan later.

It’s worth noting that Tucker spent a year in Leavenworth in the early 90s, for mail fraud. I think it’s reasonable to be skeptical that he’ll change his life around after he gets out this second time, since his family and friends didn’t abandon him the first time. Or at least, he found new friends.

Last time he went to prison, it was Leavenworth.

Actually, that was his brother.

Yes, by law the interest is reported as APR, in addition to total cost of the last. The issue was that Tucker lied about the loan costs: disclosing a cost of $150, but actually charging more than $1k.