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

Insomnia in the summer may be due to Arizona heat, doctor says...

Serena O'Sullivan

Struggling with insomnia? Arizona summer heat may be to blame, sleep expert says

Arizonans who are dealing with insomnia in the summer months can blame the heat, according to a sleep expert with Banner Health.

3 hours ago

The Maricopa County Recorder’s Office website is now offering a virtual tour of the Maricopa Coun...

KTAR.com

Maricopa County Recorder’s Office website offers self-guided virtual tour of elections center

The Maricopa County Recorder's Office website is now offering a virtual tour of the downtown Phoenix elections center.

3 hours ago

Desert tortoises: Do not disturb, AZGFD warns the public...

KTAR.com

Wildlife officials warn against disturbing wild desert tortoises

The Arizona Game and Fish Department (AZGFD) urges the public to keep desert tortoises wild.

3 hours ago

Banner Imaging and HeartFlow are collaborating to offer a new program to help new patients detect c...

KTAR.com

Banner selected to test Medicare dementia care model

The model will work to increase care coordination and improve access to services and supports, which includes respite care, people living with dementia and their caregivers.

4 hours ago

hit-and-run...

KTAR.com

Police investigating fatal overnight hit-and-run in central Phoenix

Phoenix PD responded to the area of 19th Avenue and Van Buren Street regarding a collision that involved a pedestrian.

11 hours ago

Pickleball paddle with ball laying on court...

Payne Moses

Chandler progressing toward construction of pickleball, tennis courts at Tumbleweed Park

Chandler City Council approved a construction services agreement to ignite a pickleball and tennis court project at Tumbleweed Park, the town entity recently announced.

12 hours ago

Sponsored Articles

...

Sanderson Ford

3 new rides for 3 new road trips in Arizona

It's time for the Sanderson Ford Memorial Day sale with the Mighty Fine 69 Anniversary, as Sanderson Ford turned 69 years old in May.

...

Day & Night Air Conditioning, Heating and Plumbing

Beat the heat, ensure your AC unit is summer-ready

With temperatures starting to rise across the Valley, now is a great time to be sure your AC unit is ready to withstand the sweltering summer heat.

...

DESERT INSTITUTE FOR SPINE CARE

Desert Institute for Spine Care is the place for weekend warriors to fix their back pain

Spring has sprung and nothing is better than March in Arizona. The temperatures are perfect and with the beautiful weather, Arizona has become a hotbed for hikers, runners, golfers, pickleball players and all types of weekend warriors.

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