PHOENIX (AP) - An Arizona-based financial planner who was sentenced to a year in federal prison in 2015 for defrauding investors has had his probation revoked.
Larry Ray Heartburg was ordered Tuesday by a federal judge in Phoenix to serve 64 more days in prison and then nearly 22 months of supervised release.
The 70-year-old Heartburg and his son were indicted in 2013 for bilking elderly investors out of about $257,000 from 2009 to 2012 while operating a Phoenix real estate investment business.
Internal Revenue Service investigators say Heartburg violated the conditions of his original 12-month probation term by failing to make payments toward his tax liabilities, changing his home address in January 2017 without notifying his probation officer and entering a more expensive lease agreement without first getting the probation officer’s approval.
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