- The US Treasury, IRS, and CWS Asset Management and Sales will auction off four sports cars that were owned by Scott Tucker on February 5.
- Tucker was a professional race car driver who is convinced of running a fraudulent online payday lending company that scammed 4.5 million people.
- The auction’s proceeds will go into a fund to raise money for his victims.
- The auction has four cars: a 2011 Ferrari 599 SA Aperta, a 2011 Porsche 911 GT2 RS, a 2005 Porsche Carrera GT, and a 2011 Ferrari 599xx.
- Visit Business Insider’s homepage for more stories.
The US Treasury, IRS, and CWS Asset Management and Sales will auction off four sports cars on February 5.
The rare cars were owned by Scott Tucker, a former professional race car driver who was convicted of running a fraudulent online payday lending scheme that scammed 4.5 million people. The auction of the 2011 Ferrari 599 SA Aperta, 2011 Porsche 911 GT2 RS, 2005 Porsche Carrera GT, and 2011 Ferrari 599xx will be auctioned to the public in order to raise funds for the victims.
Tucker and his co-defendant, attorney Timothy Muir, defrauded 4.5 million customers – including 250,000 New York residents – in every state by lying about the cost of people’s loans, the US Attorney’s Office for the Southern District of New York claims. Many of the victims were “struggling to pay basic living expenses” with some customers being scammed out of thousands of dollars, the government says.
Tucker and Muir were convicted on October 13, 2017, after a five-week trial. They had 14 counts against them. Tucker was sentenced to 200 months, and Muir 84 months. The case was featured on Netflix’s “Dirty Money” documentary series in 2018.
Keep scrolling to learn more about the case and the four cars:
Tucker was a former professional race car driver and American Le Mans Series champion, according to NBC News.
- Rick Dole/Getty Images
Source: NBC News
Source: The Kansas City Star
“The Ferrari and Porsche supercars offered for sale are just the most visible and gaudy signs of Tucker’s greed, luxury playthings bought with money stolen from victims who were often living hand to mouth, people who took out payday loans to buy food for their families or pay medical bills,” US Attorney Geoffrey S. Berman said in a statement.
“We hope this auction generates proceeds sufficient to at least partially compensate the victims of Tucker’s multibillion-dollar fraud scheme,” Berman continued.
This auction, along with money the Federal Trade Commission has recovered, will be combined and given to victims.
More than $500 million has been returned to victims so far, according to the US Attorney for the Southern District of New York.
The four vehicles were seized by the IRS-Criminal Investigation and were only a few of Tucker’s possessions taken by the IRS-CI for the case.
- Brendan McDermid/Reuters
Four cars will be auctioned off: a 2011 Ferrari 599 SA Aperta, a 2011 Porsche 911 GT2 RS, a 2005 Porsche Carrera GT, and a 2011 Ferrari 599xx.
The 2011 Ferrari 599 SA Aperta up for auction is only one of 80 units built.
It has 229 miles clocked on the odometer, which auction hosts CWS Asset Management and Sales claims is “one of the lowest miles to come to market.”
It also calls the vehicle one of the “rarest of modern-day Ferraris.”
The Ferrari is equipped with a V12 engine and the auction comes with many original parts, including seat and steering wheel covers, factory radio, and a leather cover for the roof.
The 2005 Porsche Carrera GT has 3,418 miles.
The 605-horsepower vehicle is powered by its 5.7-liter aluminum V10 engine.
It has a six-speed manual transmission.
The vehicle will come with much of its original equipment.
Red detailing lines its interior.
The 2011 Porsche 911 GT2 RS is the 250th build of 500 created in total.
It has 150 miles on it.
The car is powered by a turbocharged 3.6-liter flat-six engine.
Which is good for 620 horsepower.
The interior has red accents and stitching.
The 2011 Ferrari 599xx is one of only 31 made.
There are a few scratches in the front of the vehicle.
At Ferrari’s Fiorano Circuit test track, the model only took one minute and 16 seconds to loop around the nearly 2-mile road.
Source: Fastest Laps.
The vehicle has 700 horsepower.
The collection could auction off for over $2 million, The Drive reported.
Source: The Drive
It will take place on February 5.
Those interested in participating in the auction need to put down a $25,000 refundable bid deposit.