In 1991, Scott was convicted of three felony charges, including mail fraud and making false statements to a bank, resulting in a year's imprisonment at Leavenworth prison.

In 2001, he founded an online payday loan business, AMG Services, that used exploits to offer loans in states where they were illegal. After regulators tried to close the company, he negotiated with Native American tribes to claim ownership of the business and, therefore, be unconvictable at a state level due to sovereign immunity.

Using his ill-gotten gains, Scott funded his racing career, participating in, to name a few, the Rolex Sports Car Series and the American Le Mans Series. He also amassed a sizeable private collection of collector cars.

In 2016, Scott was arrested on charges in relation to his ownership and controlling role in payday lending operations that charged illegal interest rates. A year later, he was convicted of racketeering and making illegal payday loans and sentenced to 16 years and 8 months in federal prison.

Scott remains incarcerated at Leavenworth prison, with inmate number 06133-045.