Murphy man charged with stealing more than $800,000 using bogus - | Chattanooga News, Weather & Sports

Murphy man charged with stealing more than $800,000 using bogus investments

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CHARLOTTE, N.C. (AP) – Authorities accuse a 78-year-old western North Carolina man of stealing more than $800,000 by persuading victims to put money into bogus financial investments.

U.S. Attorney Jill Westmoreland Rose announced Friday that Alan Darcy of Murphy is charged with wire fraud.

If convicted, he faces up to 20 years in prison and a $250,000 fine. A federal indictment accuses Darcy of operating his investment schemes from February 2012 through June 2016.

Rose says one victim wired Darcy $60,000 on the false promise of getting a $1.5 million return through a “private bank guarantee.” She says Darcy falsely told victims their investments were held in escrow and fully refundable but instead spent more than $400,000 on travel, entertainment and items including a used Jaguar.

It’s unclear whether Darcy has an attorney.

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