HICKORY, N.C. (AP) — A North Carolina businessman who authorities say defrauded investors while bankrolling his son’s NASCAR career has been sentenced to prison.
The Charlotte Observer reports that 54-year-old Robert Boston was sentenced to 10 years in prison Monday. According a release from U.S. Attorney Andrew Murray’s office, Boston owes more than $27 million to victims after being found guilty of wire fraud, securities fraud, money laundering and conspiracy in December.
Boston founded electronic waste recycling firm Zloop in 2012. Prosecutors say he concealed a history of bankruptcy and past fraud issues from franchise owners and investors.
His son, Justin Boston, drove in NASCAR’s Camping World Truck Series in a truck emblazoned with Zloop’s logo. According to court filings, Kyle Busch Motorsports terminated the two-year, $6 million contract in 2015 for missed payments.