Curtis Boggs (Source: US Marshals)CINCINNATI, OH (FOX19) -
Curtis Boggs, 54, formerly of Harrison, Ohio, pleaded guilty in U.S. District
Court to wire fraud and money laundering in connection with a scheme he
promoted to bring a Grand Prix race to Cincinnati in 2009.
According
to court documents, Boggs was employed by an insurance company as a financial
advisor in the Southern District of Ohio 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
("CGP"). Boggs admitted that, during that period, he
fraudulently obtained investments of at least $352,745 for CGP in exchange for
shares in the "stock" of CGP.
Boggs
devised and intended to devise a scheme and artifice to defraud through
fraudulent pretenses, representations, and promises. Specifically, he
fraudulently obtained investment funds from individuals wherein the funds were
not invested as represented and were diverted in part for his personal benefit.
On or about October 27, 2008, in furtherance of his scheme, Boggs wired
proceeds of a check from an investor to his personal account to pay property
taxes on his house and pay down his personal mortgage debt. On or about October
21, 2008, Boggs laundered money derived from the fraud scheme by using
$27,232.63 to buy a Lincoln MKX vehicle for his personal use.
A
federal grand jury indicted Boggs in June. He was arrested on October 8, 2012
when he was stopped trying to enter the U.S. from Mexico.
The
plea agreement calls for Boggs to serve a sentence of 27 months in prison, pay
$352,745.21 in restitution and forfeit any assets that he received as proceeds
of the crimes. The court will conduct a pre-sentence investigation before deciding
whether or not to accept the terms of the plea agreement and schedule a date
for sentencing.
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