Scott Tucker has been sentenced to 16 years and eight months in prison on Friday, for crimes related to his payday lending business.
The four-time American Le Mans Series champion, along with attorney Timothy Muir, were found guilty on racketeering charges last year that included the collection of unlawful debts, using misleading contracts and falsely stating that the businesses were owned and operated by Native American tribes.
Tucker amassed more than $3.5 billion in earnings from his payday lending businesses, which helped fund his Level 5 Motorsports team that competed in major sports car racing series, including the ALMS and Grand-Am.
The team ceased professional racing operations shortly after its GT Daytona class victory in the 2014 Rolex 24 at Daytona.
According to a report by Reuters, Tucker, 55, did not make a statement at his sentencing, instead referring to a letter he submitted to the court in December.
“I am remorseful, your honor, for having failed to accurately display, convey and live up to the vision I had,” he wrote.
“I am remorseful, your honor, to have left a single person with the misperception that I do not recognize my responsibility to live as a good and fair business man, employer, and American citizen.”
Muir, 46, meanwhile has been sentenced to seven years in prison, with both having indicated plans to appeal the ruling.
Tucker has been indicted in other cases, including last month for filing a false tax return.