By alley - Feb 10, 2016, 12:04 PM ET

Report: Tucker arrested following federal probe

Reuters

reports that the FBI has confirmed the arrest of sportscar champion Scott Tucker and one of his lawyers, Timothy Muir, following a probe related to payday lending entities that authorities claimed Tucker controlled, including AMG Services Inc.

The arrests followed a related lawsuit by the Federal Trade Commission that sought $1.32 billion from Tucker and the estate of his deceased brother, a sum it said equaled what consumers paid beyond the disclosed cost of their loans.

According to Reuters, "the sum equals the $1.32 billion consumers paid beyond the disclosed cost of their loans," and the alleged scheme made it possible for Scott Tucker to "receive at least $419.8 million and pay for luxury vehicles, private charter and jet flights, and for an $8 million residence in Aspen, Colorado." The FTC's complaint, per Reuters, also says "another $67.6 million was transferred to his racing team, Level 5 Motorsports, for 'sponsorship' fees."

Reuters said lawyers for Tucker and Muir did not immediately respond to a request for comment.