Powerboat Racer Faces Charges Of Fraud In Telemarketing Operation

A well known power boat racer with ties to The Lake Area has pleaded guilty to federal charges of conspiracy to commit mail fraud.

Federal prosecutors say in online documents that Russel Rahm, known to friends and fans as Rusty, led a telemarketing operation that employed dozens of people – now also charged – that defrauded around 150,000 people of over 300-million dollars over a 20-year period.

Under a plea agreement, he agreed to forfeit more than $100,000 seized from multiple bank accounts and cash, as well real estate including a property  in Lake Ozark.

If he was to receive the maximum sentence for the crimes Rahm could face up to 30 years in prison.

There’s no word yet on a sentencing date.