Mon. May 29th, 2023
A Lake area Powerboat racer is being indicted on federal mail wire fraud charges, according to the US District Court of Minnesota.
According to the Kansas City Business Journal, Russell “Rusty” Rahm of the Wake Effects racing team, faces eight felony charges after prosecutors say he committed fraud related to magazine subscriptions, totaling more than $300 million dollars.
They say he did it through a number of Kansas based companies, of which defrauded more than 150,000 people for nearly 20 years.
Rahm purchased the Wake Effects company back in 2012, but sold it in 2017.
He was taken into custody and is one of 60 people in federal indictment.
If convicted, he faces up to 30 years or more in prison and he could have his Powerboat as well as some Lake area real estate seized.
You can read the full details on the case below:rahm_indictment_0