SAN FRANCISCO | $1.3B award upheld against racecar driver over payday loans

SAN FRANCISCO | $1.3B award upheld against racecar driver over payday loans

SAN FRANCISCO — A U.S. appeals court on Monday upheld a nearly $1.3 billion award against a pro racecar driver who was sent to prison following a conviction for cheating consumers through his payday loan businesses.

Information Scott Tucker’s companies provided consumers did not accurately disclose the loans’ terms, a unanimous three-judge panel of the 9th U.S. Circuit Court of Appeals ruled.

The judges also said a lower court did not abuse its authority when it ordered Tucker and other defendants to pay back nearly $1.3 billion.

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