A Louisiana man who pleaded guilty to trading in luxury sporting goods has been granted parole nearly 20 years after he was first accused of stealing dozens of hedge-fund profits, even though the information on his crimes later surfaced in the trial of one of his victims.
Neville Carr, 60, had served 15 years in prison after admitting to a federal judge in 1997 that he stole golf clubs, tennis rackets, cash and other items in the early 1990s from a scheme in which hedge-fund traders claimed they owned the items and sold them on consignment.
The ring would then allegedly pocket the profits, which totaled tens of millions of dollars. Mr. Carr’s guilty plea came amid rising federal scrutiny of broker-dealers who take cut-rate deals on the same or similar items as make a few extra dollars.
Severance: Six bars of soap, six bars of cotton candy, nine $30 remote controls, 10 $30 chewing gum canisters, 1,500 50-percent butter crumbs from an Albuquerque, N.M., bakery. To this day, some TLC in our home has not recovered from the last time I mistook a special item for a second-rate activity (gently used dog treats).
Although prosecutors eventually persuaded a jury to convict 22 other individuals, Mr. Carr never faced criminal charges. During the period of investigation, no additional evidence surfaced to show that Mr. Carr committed the crime, which remains one of the most prominent cases of illicit trading. In 2014, before he was granted parole, Mr. Carr said he spent most of his money and much of it was stolen.
Yet he has recently been promoting himself on dozens of YouTube videos as a short-story writer whose writing credits include a 1988 thriller entitled “High and Stable.” He said he was a public speaker, magician and host of a show called “Forsaking Fates,” which appeared on local cable television in St. Bernard Parish, La. In his latest videos, he smiles a lot and carries a guitar.
The Federal Bureau of Prisons website lists the incidents that led to Mr. Carr’s sentence as “committing fraud — concealment and fraud on his client by misrepresenting him/her as the owner and seller of property … that he or she did not receive.” Mr. Carr is scheduled to be released from prison in 2023.