Paradise Valley investor indicted over $3M payday loan schemes

Justice Scales and books and wooden gavel
Posted at 8:27 AM, Aug 15, 2019
and last updated 2019-08-15 11:27:31-04

PARADISE VALLEY, AZ — A federal grand jury has indicted David Allen Harbour on 22 counts of wire fraud and money laundering.

While it's unclear exactly how many investors were impacted, an indictment filed in the U.S. District Court for the District of Arizona alleges the Paradise Valley resident defrauded investors out of $2.9 million by promoting and selling fraudulent high-yield investments, primarily involving investments in high-rate loans to small and startup businesses — commonly known as payday loans.

Court documents show about $89 million flowed into and out of Harbour's bank accounts between 2009 and 2018.

The court records allege he used his lavish lifestyle to lure investors into his money schemes.

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