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NASCAR Truck: Justin Boston’s father convicted for scheme to fund racing career

Justin Boston (photo courtesy of Getty Images for NASCAR)

Justin Boston (photo courtesy of Getty Images for NASCAR)

By AMANDA VINCENT

Robert Boston, father of former NASCAR driver Justin Boston, was convicted Friday of fraud and money laundry after a four-day trial because of a scheme to fund his son’s racing career. Charges for which he was found guilty include conspiracy to commit wire fraud, wire fraud, securities fraud and money laundering, according to an ESPN report. As a result, he faces up to 70 years in prison. He has yet to be sentenced.

Boston was accused of using more than $6 million in investments to his company Zloop from outside investors to fund Justin Boston’s racing. Justin Boston, seemingly, was not involved beyond driving a race car with Zloop sponsorship. Robert Boston’s attorneys argued that the investors were aware that part of Zloop’s marketing plan included sponsorship of Justin Boston’s racing, but bad equipment kept the sponsorship from translating into business for Zloop.

“A failed business plan is not a crime,” Robert Boston’s attorney Kevin Tats said in his closing statement during the trial, as quoted by ESPN.

Federal prosecutors contended, though, that the $6 million spent to sponsor Justin Boston was more than Zloop spent on other operational costs and that $6 million was more than any other start-up with the similar financials would spend on marketing.

After a Zloop bankruptcy, NASCAR Camping World Truck Series team sued Justin Boston to recoup funds it had to pay to Zloop investors from funds paid to the race team from Robert Boston and Zloop to back Justin Boston’s races with the team. KBM paid $462,500 to Zloop investors and then, received a $442,561 judgment against Justin Boston.

Justin Boston competed in 10 Camping World Truck Series races between 2014 and 2015, nine of those with Kyle Busch Motorsports in 2015. He finished a career-best seventh at Kansas Speedway in 2015. He also competed in a Truck Series race for Venturini Motorsports in 2014, also with Zloop as sponsor.

Robert Boston’s business partner, Robert LaBarge, pleaded guilty in a plea deal related to the case and testified against Robert Boston.

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Posted by on December 10, 2017. Filed under Breaking News,Featured,NASCAR,NASCAR Camping World Truck. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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