Man sentenced to eight years in prison for investment fraud

PHOENIX (KYMA, KECY) - 50-year-old David Allen Harbour was sentenced to eight years in prison for wire fraud and transactional money laundering.

Harbour pleaded guilty to tax evasion on March 7, 2023, and agreed he evaded more than $4 million in taxes.

The U.S. District Attorney's Office stated the evidence showed that Harbour acted as a self-styled investment advisor and defrauded numerous investors between 2007 and 2021.

He misrepresented the nature of the various investments and omitted material facts.

The District Attorney's Office said the total loss to investors exceeded $8 million.

Harbour used this money to pay for a lavish lifestyle that included multiple private country club memberships, expensive jewelry, multimillion-dollar vacation residences, private jet travel, speed boats, and luxury vehicles.

Including parties that had a private concert at his 40th birthday party by the 1970s rock band the Eagles.

The District Attorney's Office said some of the items were seized by the government during the investigation such as a Patek Philippe watch, a Rolex watch, gold and diamond jewelry, and two country club memberships.

Proceeds from the items will be used towards partial restitution for the victims, said the District Attorney's Office.

During the sentencing, the judge increased Harbour’s sentence for his efforts at tampering with witnesses before trial by paying or attempting to pay them off in exchange for not testifying against him.

“The defendant will have eight years in federal prison to reflect on his long-term pattern of deception,” said U.S. Attorney Gary Restaino. “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.”