LOS ANGELES (AP) — A Los Angeles man has been sentenced to 6½ years in prison for his involvement in a $13.5 million fake NASCAR merchandise business.
Federal prosecutors say 66-year-old Eliott Dresher of Chatsworth was also ordered Monday to pay $8.8 million in restitution.
Dresher is accused of taking money from family, longtime friends and others over an 11-year period to invest in a business that would buy overstock NASCAR apparel and sell it at a profit.
Dresher falsely told investors he would sell the items to stores like Costco and Ross Dress for Less.
In reality, he had no relationship with the car racing organization, nor its licensed manufacturer or distributor.
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