What You Have to Know
- A federal jury discovered David Allen Harbour responsible on six counts of wire fraud and 11 counts of transactional cash laundering.
- He promoted fraudulent high-yield investments tied to payday loans, based on prosecutors.
- Harbour spent consumer cash on bills together with a personal jet and a personal Eagles live performance, prosecutors mentioned.
A federal jury discovered an Arizona man who acted as a monetary advisor responsible on six counts of wire fraud and 11 counts of transactional cash laundering, based on court docket paperwork and the Justice Division.
David Allen Harbour, 49, of Scottsdale was discovered responsible by the jury on March 2 and he then, on Tuesday, pleaded responsible to 1 depend of tax evasion, resolving two pending trials scheduled for later this month, the U.S lawyer’s workplace for the District of Arizona mentioned in a information launch on Thursday.
Sentencing is scheduled for June 5 earlier than Decide Douglas L. Rayes at U.S District Court docket for the District of Arizona.
“Harbour acted as a self-styled funding advisor who defrauded quite a few victims between 2007 and 2021,” based on the Justice Division.
The overall loss to traders exceeded $20 million and Harbour diverted his purchasers’ cash to fund a lavish life-style, the Justice Division mentioned.
“Harbour’s extravagant expenditures included: non-public jet journey; nation membership memberships in Arizona, Coeur d’Alene, Idaho, and Cabo San Lucas, Mexico; million-dollar speedboats; stays at luxurious motels; costly jewellery; and a personal fortieth birthday live performance by the Eagles,” based on the Justice Division.