ARIZONA NEWS

Scottsdale man who hired Eagles with fraud proceeds sentenced to 8 years in prison

Feb 2, 2024, 2:00 PM | Updated: Feb 5, 2024, 6:15 am

stock image of somebody looking at a tax form that has "scam" written across it, next to a calculat...

A Scottsdale financial services company was ordered to pay over $1 million in restitution after one of its registered securities salesmen committed fraud, state regulators announced July 9, 2024. (Pexels Photo)

(Pexels Photo)

PHOENIX — A Scottsdale man who hired the Eagles for a private show with money he scammed through an investment fraud scheme was sentenced Tuesday to eight years in federal prison, authorities said.

Prosecutors say David Allen Harbour, 50, got rich as a self-styled investment advisor between 2007 and 2021. He was prosecuted for misrepresenting the nature of the investments and omitting material facts, causing his victims to lose more than $8 million, according to the U.S. Attorney’s Office for District of Arizona.

Harbour also avoided paying more than $4 million in taxes.

He was convicted of wire fraud and transactional money laundering on March 2, 2023, and pleaded guilty to tax evasion five days later.

How did convicted Scottsdale fraudster spend ill-gotten money?

Harbour used the proceeds of his fraud to support a lavish lifestyle that included private jet travel, country club memberships and million-dollar speedboats, prosecutors said. He even hired classic rock legends the Eagles for his 40th birthday party.

The government was able to seize a Patek Philippe watch, a Rolex watch, gold and diamond jewelry and two country club memberships during its investigation. Proceeds from the items will go toward restitution for Harbour’s victims.

“The defendant will have eight years in federal prison to reflect on his long-term pattern of deception,” U.S. Attorney Gary Restaino said in a press release Friday. “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.”

When prosecutors announced Harbour’s conviction last year, investor losses were said to be $20 million. More information about the loss amount is expected to be provided during a restitution hearing in March.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

Police are investigating an officer-related shooting in Phoenix on Wednesday that left two people i...

Bailey Leasure

Suspect car crashes while fleeing police-involved shooting in Phoenix

Police are investigating an officer-related shooting in Phoenix on Wednesday that left two people injured.

18 minutes ago

One woman has died after a crash in north Phoenix Tuesday, authorities said....

Bailey Leasure

North Phoenix collision leaves 1 woman dead, another hospitalized

One woman has died after a crash in north Phoenix on Tuesday, authorities said.

57 minutes ago

Collision in Peoria...

Danny Shapiro

2 dead in Peoria collision; speed, impairment possible factors

Two people, an 86-year-old woman and 90-year-old man, died after a collision in Peoria on Wednesday morning, authorities said.

1 hour ago

One man has died and another is in critical condition after a shooting in west Phoenix on Tuesday, ...

Bailey Leasure

1 dead, 1 hospitalized after west Phoenix shooting

One man has died and another is in critical condition after a shooting in west Phoenix on Tuesday, authorities said.

2 hours ago

Health care for prisoners in Arizona...

Associated Press

Lawyers for inmates ask judge to take over health care services in Arizona prisons

Lawyers for 25,000 people incarcerated in Arizona have asked a judge to take over health care operations in state-run prisons and appoint an official to run them, saying the state is not capable of fixing deep failures in care even though it has been required to do so over the last decade.

4 hours ago

Follow @kstonezone...

Sponsored Content by Bright Wealth Management

How updating your estate plan is crucial in saving money

As you map out your estate plan, mapping out beneficiaries and keeping it up to date is key in order for the most funds possible to be passed down with ease.

Sponsored Articles

...

Collins Comfort Masters

Collins Comfort Masters: Your go-to plumbing experts in Arizona

Collins Comfort Masters, a trusted name in HVAC, water and plumbing since 1985, is you go-to plumbers for the residents of Phoenix and the Valley.

...

Fiesta Bowl Foundation

Join us for the 52nd annual Vrbo Fiesta Bowl Parade

The 52nd annual Vrbo Fiesta Bowl Parade presented by Lerner & Rowe returns on Saturday, December 28, at 10 a.m.

...

Sanderson Ford

Sanderson Ford’s Operation Santa Claus: Spreading holiday cheer through pickleball

Phoenix, AZ – Sanderson Ford, a staple in the Arizona community, is once again gearing up for its annual Operation Santa Claus charity drive.

Scottsdale man who hired Eagles with fraud proceeds sentenced to 8 years in prison