John Casey, who served as CFO of the Boston Grand Prix group that attempted unsuccessfully to stage an IndyCar Series race on the streets of the Massachusetts capital in 2016, was arrested last week on federal fraud charges in connection with the cancelled event.
According to the Boston Herald, Casey was arraigned virtually last Tuesday on charges that included failing to report hundreds of thousands of dollars in income from the aborted race. The Herald reports that Casey pleaded not guilty to eight counts of wire fraud, one count of aggravated identity theft, three counts of money laundering and three counts of filing false tax returns. He was released on a $10,000 unsecured bond.
Casey agreed to a settlement with the Massachusetts Attorney General’s office in April of 2017, which had accused him of enriching himself with race funds before the race was approved. While admitting no wrongdoing, Casey agreed to pay the state $50,000 and was banned from working on any future for-profit events in Massachusetts.
Originally scheduled for Labor Day weekend in 2016, the Boston Grand Prix was cancelled after portions of the course were determined to be located in a FEMA-designated flood-zone area. After the cancellation, the Boston Grand Prix filed for bankruptcy and the IndyCar Series, which was not involved in the promotion of the event, stepped in to refund almost $1 million in tickets that had been sold by BGP.