An auction is taking place on Thursday, April 21 for the property of payday loan magnate Scott Tucker.
Why is this important: Leawood businessman Tucker was sentenced in 2018 to 16 years in prison for running an illegal internet lending empire.
The property was featured in the Netflix documentary “Dirty Money,” which featured Tucker’s story in the first season.
The background: Tucker was found guilty of 14 counts, including wire fraud and money laundering, for his involvement in a $3.5 billion online payday loan scheme.
According to US Department of Justicefrom 1997 to 2013, Tucker made small, short-term, high-interest unsecured loans, commonly known as “payday loans”, via the Internet.
His companies have charged up to 4.5 million people with predatory lending with illegally high interest rates of 700% and more.
The details: the the auction will take place online from 11 a.m. to 1 p.m. Thursday, with a starting bid of $420,000.
Located at 2405 W. 114th St. in Leawood, the home is in the Hallbrook Farms subdivision overlooking the golf course.
Built in 2003 on 42,000 square feet of land, the 4,500 square foot mansion features 4 bedrooms, 4.2 bathrooms, kitchen with breakfast nook, great room and office, two fireplaces, patio, a second-floor loft and a four-car garage.
There is also a 4,200 square foot basement that includes a media room, office, exercise room, game room with a bar, patio, and an additional four-car garage.
History of the property: The Internal Revenue Service seized Tucker’s property in March 2019 in its effort to recover a fraction of the billions of dollars customers were defrauded by his payday loan business.
In June 2019, more than 1,000 people visited the Leawood home to purchase Tucker’s possession for $85,626 at an estate sale.