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
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.