CINCINNATI (AP) — A man who told investors and Cincinnati leaders he could bring a Grand Prix auto race to the city has been sentenced to more than two years in prison and ordered to pay more than $350,000 in restitution.
Financial adviser Curtis Boggs was sentenced Wednesday in federal court in Cincinnati on charges of wire fraud and money laundering.
Authorities say the 54-year-old Boggs fled Cincinnati months ago after it became apparent the race wasn’t going to happen. The FBI arrested him last October, when he tried to re-enter the United States from Mexico.
Prosecutors say Boggs solicited investments in a company called Cincinnati Grand Prix and obtained more than $350,000.
Authorities say he used some of the money to buy a luxury car and make mortgage and property tax payments.