PHOENIX - A Scottsdale businessman has been sentenced to five years in prison after pleading guilty to conspiracy and tax evasion charges in a scheme that federal authorities said defrauded victims that included property developers in country music-themed restaurant projects.
Frank Capri was sentenced on Feb. 24 by U.S. District Judge John J. Tuchi to concurrent sentences on each count, according to court records.
A plea agreement said Capri must pay up to $18 million of restitution to developers and other victims of fraudulent activity that included inflating project expenses to increase fees paid to him and siphoning off money for personal expenses, including over $2.7 million of jewelry purchases.
He also must pay restitution of over $1.5 million to the Internal Revenue Service for taxes due, the agreement said.
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