Former payday millionaire Toby McKenzie dies

Former payday millionaire Toby McKenzie dies

May 2nd, 2013 by Staff Report in Local - Breaking News

Toby McKenzie

Photo by Tim Barber/Times Free Press.

Former payday millionaire Toby McKenzie died this morning. He was 59.

Visitation will be Saturday from 5 to 8 p.m. at Fike Funeral Home in Cleveland, Tenn.

Services will be held Sunday at 2 p.m. at Mount Olive Church of God in Cleveland.

McKenzie made a fortune in the payday loan business, but the Cleveland businessman then sold that operation and entered real estate and other fields.

He underwent an involuntary bankruptcy in 2008 with his assets being liquidated to pay nearly $200 million to creditors nationally.

He was active in the community with his name gracing McKenzie Arena, the former Roundhouse, at UTC.

See tomorrow's Times Free Press for more details.