Larry McClure Indicted On Tax Fraud

Kelly CrandallSenior Writer IOctober 29, 2008

Gene Haas might have company in prison.

Earlier this year Haas was sentenced to prison for two years after being convicted of tax fraud and now it appears that Larry McClure may be coming his way.

Larry McClure is a founder and co-owner of Morgan-McClure Motorsports, which fields the no.4 car in the Sprint Cup Series.

The family owned team which consists on brothers Larry, Ed, Jerry and Teddy, got their first of fourteen Sprint Cup victories, at Bristol in 1990.

The team also has three Daytona 500 wins.

But now one of it's owners has been indicted in Virginia on three counts of tax fraud and two counts of obstruction of justice as well as "multiple counts of mail fraud, filing a false tax return, obstructing a tax investigation, money laundering and one count of wire fraud."

It has been reported that $325,000 was not reported for the years 2002, 2003 and 2004.

If McClure is convicted he could face up to 115 years in prison and have $2.75 million dollars in fines.