KC Magazine provided payday-lending magnate Scott Tucker most of the good press their money could purchase
In November 2012, KC Magazine called Scott Tucker вЂњa staunch Republican voter and quite a long time governmental activist.вЂќ It had been the most recent of several appearances heвЂ™d made over time in Anthem Media GroupвЂ™s neighborhood glossy, a basic of doctorsвЂ™-office waiting spaces within the metroвЂ™s suburbs. The admiring mini-feature also described Tucker as a private-equity business owner.
It absolutely was correct that Tucker had completed numerous private-equity ventures. But KC Magazine made no mention вЂ” then or ever вЂ” of the industry that made this particular staunch Republican and businessman that is local.
That could be predatory payday financing вЂ” the industry that this current year even offers made Tucker the prospective of federal prosecutors.
KC MagazineвЂs 2012 writeup omitted a couple of other details about Tucker november. The storyline traced their job path because of this: вЂњAfter making university, Tucker embarked on a lifetime career in personal equity and quickly established himself as an effective businessman.вЂќ This departs out a noteworthy first effort at making a fast fortune that rather drew prosecution.
After Tucker graduated from Kansas State University, into the 1980s, a federal grand jury in 1990 charged him with fraudulence in link with a bogus investment-bank operation called Chase, Morgan, Stearns and Lloyd (a business title that borrowed from different genuine investment banking institutions in procedure during the time). Tucker had been convicted and invested a 12 months in jail.
Because of the late 1990s, he had been operating various payday-lending enterprises вЂ” which certainly led him to success, to paraphrase KC Magazine. But yet again, their company transactions have actually placed him into the crosshairs of federal authorities. The indictment brought against him by federal prosecutors in ny earlier in the day this current year alleges that TuckerвЂ™s payday-lending enterprise violated anti-racketeering laws and regulations.
A few magazines, including that one, have actually tracked the nature that is shadowy of payday-lending organizations recent years years.
KC Magazine will not be those types of magazines.
It as well as other properties managed by Leawood-based Anthem Media Group took a softer approach with regards to Tucker, failing woefully to note the certain nature of their organizations and alternatively concentrating on their forays into professional automobile race and touting their participation in politics.
TuckerвЂ™s verifiable link with elective politics happens to be restricted, but he does, as KC Magazine indicated in 2012, favor Republican politicians. On October 27, 2012, Tucker cut a $10,000 check to GOP candidate that is presidential Romney. As efforts from millionaires go, that one had been all but completely symbolic.
However for anybody TuckerвЂ™s that is following complex of companies, it absolutely was scarcely worthless.
When you look at the Federal Election Commission record of this $10,000 check, Tucker listed their target as 7101 university Boulevard, Suite 400, in Overland Park вЂ” Anthem Media GroupвЂ™s workplace during the time. In which he listed their boss as AMG Services вЂ” the name associated with the leading operation that is payday-lending federal authorities state he nominally included on a indigenous US reservation in purchase to sidestep state usury laws and regulations, however in reality used 800 or maybe more individuals in Overland Park.
The intersections between Tucker and Anthem Media Group operate far much much much much deeper than the usual office that is suburban and a couple of initials.
Documents reveal that Tucker happens to be, until really recently, a contributor that is financial entities associated with Anthem Media Group, either through direct money assets or contractual relationships involving their lots of enterprises. So when TuckerвЂ™s wide range has come under risk amid federal investigations in to the nature of their payday-loan company, Anthem Media Group seems and also to be in a few continuing state of upheaval. In January, longtime KC Magazine administrator editor Katie Van Luchene resigned online installment loans in Virginia through the mag. Its editor-in-chief, Kimberly Stern, left the exact same time.
вЂњMy departure from KC Magazine вЂ” aswell as that of Editor-in-Chief Kimberly Winter Stern вЂ” came as a consequence of the book going for a various editorial direction,вЂќ Van Luchene writes into the Pitch within an email. вЂњAfter evaluating that, we chose to resign.вЂќ
Brian Weaver, the CEO of Anthem Ventures, the umbrella company over AnthemвЂ™s publishing unit, didn’t get back telephone calls through the Pitch as this tale had been reported. Within an e-mailed answer a set of penned questions sent to AnthemвЂ™s workplace, he does not deal with the continuing future of KC Magazine or its cousin book Kansas City company Magazine. He additionally downplays TuckerвЂ™s monetary part in Anthem Ventures as well as its relevant businesses.
вЂњWe do not have company or monetary relationship with Mr. Tucker,вЂќ Weaver writes. вЂњi actually do think about him a buddy.вЂќ
Friendship alone appears a not likely description for the rosy tales and splashy picture spreads that Tucker received in Anthem Media GroupвЂ™s magazines even while news and federal investigations shut in regarding the businessman.