U.S. Marshal Service
(Cincinnati, Oh.) – A former Harrison man who used the fake promise of bringing a grand prix race to Cincinnati to scam people out of money is going to prison.
Curtis Boggs, 54, previously admitted to swindling investors out of $352,000 under the guise of luring a grand prix race to the Queen City. He pleaded guilty in January to single counts of money laundering and wire fraud.
On Friday, Chief U.S. District Court Judge Susan J. Dlott sentenced Boggs to 27 months in prison. He also has to pay back the money he took from investors.
According to court documents Boggs was employed by an insurance company as an investment advisor from 2000 to 2009. Beginning in approximately October 2008 and continuing through approximately August 2009, Boggs solicited his customers and others to invest in silver and gold, or in a grand prix race, through a corporation called Cincinnati Grand Prix.
Boggs admitted that he fraudulently obtained investments of at least $352,745 for the race in exchange for shares in the "stock" of Cincinnati Grand Prix. Boggs used some of the money to buy a Lincoln MKX vehicle for his personal use.
“Although some of the money was spent to developing the race, significant sums of money were also spent on the Defendant’s personal expenses,” said Assistant U.S. Attorney Tim Mangan.
Boggs had fled to Mexico around the time a Grand Jury indicted him in June of last year. He was arrested on October 8 when he was stopped trying to enter the U.S. from Mexico.