| | ESPN.com news services
Two men, including the former manager for Team Menard of the Indy Racing League, were indicted Thursday on 42 counts of mail fraud and money laundering charges.
A federal grand jury in Madison, Wis. indicted Larry Curry, former team manager for IRL's Team Menard, and William Felts, former owner/operator of Source One Engineering.
The indictment alleges that the men operated a scheme to defraud Menard Inc. -- Team Menard's parent company -- of almost $900,000.
If convicted, Curry and Felts face a maximum penalty of five years in prison and a $250,000 fine on each of 21 counts of mail fraud, a maximum of 20 years in prison and a $500,000 fine on three of the money laundering charges, and a maximum of 10 years in prison and a $250,000 fine on each of the remaining 17 counts of money laundering.
The indictment alleges that Curry and Felts created and submitted false invoices for car parts and work on parts and also mailed checks from Menard to Source One in payment. The indictment alleges further that Felts then returned to Curry a substantial portion of the money.
Source One Engineering is no longer in business. | |
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