A father who used used a portion of the proceeds from the illegal scheme to, in part, fund his son’s racing career faces as much as 70 years in jail after a jury found him guilty of several changes.
The jury found Robert Boston guilty in a case in which prosecutors claimed he conned investors who put money into the computer recycling company, Zloop. As a result, Boston was found guilty of conspiracy to commit wire fraud, wire fraud, securities fraud and money laundering, according to a report in ESPN.
An indictment in the case claimed Boston and another man, Robert LaBarge, spent some of the money from their scheme on racing-related expenditures for the Zloop-sponsored No. 20 Toyota Camry driven by Boston’s son, Justin.
Justin Boston is not involved in the case against his father.
The Zloop-sponsored car ran in two XFINITY Series races for Joe Gibbs Racing in 2014. Justin Boston then moved to the Truck Series in 2015, where he drove a Zloop-sponsored truck for nine races, earning four top-10 finishes. But, he was quickly let go by Kyle Busch Motorsports for missing sponsorship payments.
Robert Boston and LeBarge founded Zloop in 2012 as an electronic waste recycling firm and began marketing the company to potential franchisees later in the same year. In total, the men swindled approximately $25 million from investors, which they used to purchase expensive real estate, vehicles, and a NFL suite. In addition, they used $6 million to directly bankroll their NASCAR team, according to The Charlotte Observer.
Once investors began demanding their money back in 2013, Boston was able to trick another person into opening a $14 million line of credit to help fund the company. The big problem was Boston never made it clear to his investors that he had a previous history fraud and bankruptcy. As a result, a 12-member jury found Boston guilty of all four charges levied against him at the conclusion of his trial at U.S. District Court.
Boston could face a maximum sentence of 70 years, but his official sentencing will come at a later date. His co-defendant, LaBarge, took a plea deal in November and also has yet to receive sentencing.
Boston’s son, Justin, has not participated in a NASCAR event since being released by Kyle Busch Motorsports. Busch’s team was forced to return more than $460,000 to investors following Zloop’s bankruptcy, but the team did eventually win a $444,561 judgment against Justin Boston.
Neither LaBarge or the elder Boston issued comment following their trial.