The U.S. Department of Justice is auctioning off four exotic sports cars once owned by convicted payday loan fraudster Scott Tucker, who is currently serving a 16-year-prison sentence in Leavenworth Penitentiary in Kansas.
Tucker and his co-defendants are on the hook for a $1.3 billion payout to the millions of victims of their 15-year-long scheme, which involved charging interest rates of more than 1,000 percent in some instances.
During his time running the $3.5 billion operation, Tucker was a successful racing driver and avid car collector with a penchant for European supercars.
The quartet of cars includes a 2005 Porsche Carrera GT, a 2011 Ferrari 599xx track car and a 2011 Ferrari SA Aperta that is one of just 80 that were built. Each of the three is likely worth over $1.5 million while a 2011 Porsche 911 GT2 RS could sell for $500,000 or more.
The auction is scheduled to take place on February 5 at The Circuit of The Americas race track in Austin, Tex., with all proceeds to be pooled with monies recovered through other seized assets.
The DOJ says that it has so far managed to return over $500 million to victims.