U.S. Marshal Service
(Cincinnati, Oh.) - Sentencing is pending for a former Harrison man who ripped off people by persuading them to invest in a Grand Prix race in Cincinnati that never happened.
Curtis Boggs, 54, pleaded guilty Thursday to federal wire fraud and money laundering charges, the Associated Press reports.
Boggs, a financial advisor, fleeced investors of more than $350,000 through the auto race scheme in 2008 and 2009. Instead of luring a race to the Queen City, he used the investment money to purchase a new car and pay personal expenses. He fled the tri-state soon afterwards.
Authorities arrested Boggs last October when he tried to re-enter the United States from Mexico.
The plea agreement reached with U.S. attorneys calls for a prison sentence of two years and three months. Boggs must also pay $352,745 in restitution and forfeiting any assets from crimes.