Local News

Wake Forest man charged in bra investment scam

Posted May 17, 2011 4:16 p.m. EDT

— A Raleigh tax preparer was charged Monday with stealing money from a client last year after convincing her he was investing in a brassiere company, according to an arrest warrant.

Sam Alexander Boone, 46, of 2641 Penfold Lane in Wake Forest, was charged with obtaining more than $100,000 in property by false pretense. He was being held in the Wake County jail under a $750,000 bond.

Police said Boone convinced a woman who had received a large settlement in 2009 to invest in a company called Bras Inc. to reduce her tax penalties for the year. The woman wrote him a $100,000 check, as well as checks for $5,000 for his tax preparation services and $11,499 for her state and federal taxes, according to the warrant.

Boone never filed the woman's taxes and cashed or deposited all three checks in his account, the warrant states.