! YIKES !
NASCAR driver Brian Rose accused of scamming investors:
A former NASCAR driver is at the center of a $15 million fraud investigation and is accused of creating a fake coal mining company to get money from investors.
Federal agents launched a massive investigation into Brian Rose after an alleged victim from Charlotte came forward. The Secret Service said the accused tried to cover every detail to convince investors it was the real deal.
In the indictment, federal prosecutors named Rose as the ringleader of this elaborate coal-mining scheme. The defendants would call investors saying New Century Coal was looking to mine low sulfur and low ash coal in Kentucky and Tennessee, according to the documents. They promised a quarterly return of 6 percent until operations began. After that, investors would receive 100 percent or more during the first year of mining. The indictment stated the nine defendants were very careful to cover their tracks. Two of them legally changed their names and attached those names to New Century Coal. The defendants also created ghost companies to ease investors’ suspicions.
Prosecutors said the defendants also spent part of the $15 million on “lavish gambling trips to Las Vegas” and buying and training thoroughbred horses. All nine defendants are now charged with conspiracy to commit wire and mail fraud.
The Secret Service already seized a number of race cars, race horses and property from Rose and the other defendants.
Channel 9 learned Rose’s father was sentenced to four years in prison for bilking $15 million out of investors for fraudulent oil and gas companies. The Secret Service said they are currently investigating another company called Earth Energy Exploration that was run by Rose and his family.(WSOC), Rose ran 41 Camping World Truck Series races between 2001 & 2010. He attempted the October 2002 Sprint Cup race at Martinsville, but did not qualify.(6-28-2014)
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Looking like the Apple didn’t fall far from the Tree...
Xxxtreme Motorsports withdraws; expects to return to track:
According to a tweet from Chris Knight: “A source close to Xxxtreme Motorsport [said] that the team is extremely disappointed that they are not attending NASCAR’s Sprint Cup Series race at Kentucky Speedway this weekend. Circumstances beyond their control will likely keep the team away from the racetrack for the next couple of weeks. However, the team is committed to resolving the setback promptly and efficiently, which will allow them to resume their plan to run the remainder of the NASCAR Sprint Cup Series season with their #44 Phoenix Warehouse Chev7 SS and driver J.J. Yeley. The team continues to stand behind Yeley.(6-28-2014)