WSOC is reporting that former NASCAR racer Brian Rose is one of nine separate defendants that have been charged with conspiracy to commit mail and wire fraud as part of an investigation into a fictional coal mining company called New Century Coal. The Secret Service alleges that Rose is the ringleader of the whole operation. Investors were pitched the idea of investing in new coal mine ventures in Kentucky and Tennessee where low ash and low sulfur coal would be mined. They would get a return of six percent per quarter until operations began, then 100 percent afterwards.
Ultimately, the operation turned out to not exist and investors have no real idea where the money they pumped into the venture went to. However, Secret Service Agent Glen Kessler has at least some idea where the money went.”Brian Rose would use investors’ money to actually support his own NASCAR racing team,” Kessler stated. In addition to racing purposes, the money raised allegedly was spent on thoroughbred race horses and extravagant trips to Las Vegas.
According to WSOC, the New Century Coal venture first sought out investors in 2011, about a year after Rose’s most recent start in the Camping World Truck Series. If he is convicted, Rose could be facing a minimum of 97 months in Federal Prison based on the amount of money bilked from investors ($15 million) and current Federal sentencing guidelines.
Rose made 41 career starts in the Camping World Truck Series, including a near full season in 2002 for Bobby Hamilton Racing and Rick Ware Racing. Rose had one top-5 and five top-10 finishes with a personal best of third at Daytona in 2002. He also attempted to qualify for the 2002 Old Dominion 500 at Martinsville Speedway with Rick Ware Racing, but failed to qualify.