A Scottsdale man, David Allen Harbour, was sentenced last week to eight years in prison after a jury convicted him of crimes involving wire fraud and transactional money laundering on March 2, 2023.
On March 7, 2023, Harbour also pleaded guilty to tax evasion, agreeing that he evaded more than $4 million in taxes.
According to the Department of Justice’s evidence introduced at trial, Harbour acted as a self-styled investment advisor and defrauded numerous investors between 2007 and 2021. Harbour misrepresented the nature of the various investments and omitted material facts. The total loss to investors exceeded $8 million.
Harbour diverted money to pay for a lavish lifestyle including numerous private country club memberships, expensive jewelry, multimillion dollar vacation residences, private jet travel, speed boats, luxury vehicles, and extravagant parties that included a private concert at his 40th birthday party by the 1970’s rock band the Eagles. Some of these items were seized by the government during the investigation, including a Patek Philippe watch, a Rolex watch, gold and diamond jewelry, and two country club memberships.
The proceeds from these items will be used towards partial restitution for the victims. At sentencing, the judge specifically increased Harbour’s sentence for his efforts at tampering with witnesses prior to trial by paying or attempting to pay them off in exchange for not testifying against him.