A Paradise Valley guy running through a few Scottsdale-based organizations happens to be accused of creating false statements to investors in a purported payday-loan company scheme and diverting a lot of the amount of money raised from investors to guide their own “lavish life style.”

A jury that is grand U.S. District Count in Phoenix indicted David Allen Harbour of 22 felony counts of cable fraudulence and cash laundering, alleging which he defrauded investors in Arizona as well as other states of $2.9 million from 2010 to 2015 through a scheme to increase pay day loans to smaller businesses.

The indictment ended up being filed July 30 and released to your news Thursday.

Harbour, 46, ended up being arrested Monday in Paradise Valley. Their lawyer did not react to demands for remark. Harbour has pleaded not liable to all or any costs. He could face numerous years in jail. An endeavor is planned to start out Oct. 1.

The research had been spearheaded by the irs and FBI.

Harbour additionally reached funds using the Securities and Exchange Commission this past year on costs which he made false claims to upscale investors to fund A indigenous US financing company that has been under development. Read More — Arizona guy indicted on fees of defrauding investors in pay day loan scam via Scottsdale businesses

Arizona guy indicted on fees of defrauding investors in pay day loan scam via Scottsdale businesses A Paradise Valley guy