PHOENIX, Ariz. – A Scottsdale man has been sentenced to eight years in prison for his role in a massive investment scam that bilked numerous investors out of over $8 million.
David Allen Harbour, 50, was convicted of wire fraud and transactional money laundering after a five-week trial in March 2023. He also pleaded guilty to tax evasion, admitting to evading over $4 million in taxes.
According to evidence presented at trial, Harbour posed as a self-styled investment advisor and made false promises to investors between 2007 and 2021. He used the money to fund a lavish lifestyle, including private country club memberships, expensive jewelry, and multimillion-dollar vacation residences.
Some of the seized items included a Patek Philippe watch, a Rolex watch, gold and diamond jewelry, and two country club memberships. The proceeds from these items will be used towards partial restitution for the victims.
At sentencing, the judge increased Harbour’s sentence for his attempts to tamper with witnesses prior to trial by paying or attempting to pay them off in exchange for not testifying against him.
“The defendant will have eight years in federal prison to reflect on his long-term pattern of deception,” said U.S. Attorney Gary Restaino. “Justice for the victims continues, as we work to determine the final amount of restitution, and to use the forfeited assets to restore some of the losses.”
This case was investigated by the Internal Revenue Service (IRS)-Criminal Investigation and the Federal Bureau of Investigation. Assistant U.S. Attorneys Kevin M. Rapp and Coleen Schoch handled the prosecution.
Follow the U.S. Attorney’s Office, District of Arizona, on Twitter @USAO_AZ for the latest news.
Related Federal Cases
- Stephen Allen Lamont, Medicare Fraud, Arizona 2023 · New York
- David Young, Procurement Fraud Scheme, Hernando Beach FL, 2023 · Washington
- Sylvia Begay, Medicaid Billing Fraud, Arizona 2024 · Washington
- Jason David Grisham, Assault of Federal Officer, Arizona 2016 · Washington
- Gregory Walsh, Real Estate Investment Fraud, Oregon 2023 · New Mexico
Key Facts
- State: Arizona
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
