Ex-NASCAR driver hit with more charges in alleged fake investments scam

TOMBALL, Texas (KTRK) -- A former professional race car driver faces new charges of defrauding investors of tens thousands of dollars.

Patrick "P.J." Abbott, 55, was already charged with felony aggregate theft, accused of stealing approximately $200,000 in an investment scheme.

RELATED: Former NASCAR driver arrested for alleged fake investments scam

The former NASCAR driver, who lives in The Woodlands, was just indicted on two additional felony securities fraud charges related to the same scheme.

According to court records, Abbott took large chunks of cash from investors to allegedly fund a sandless sandbag business, as well as an electric vehicle business.

Instead, investigators believe all the money went toward personal expenses and enrichment.

Abbott is out of jail on bond totaling $60,000 for the new charges. His next court date is scheduled for July 12.

The married father of two has claimed he's the subject of a witch hunt. His alleged victims live in the Tomball area.
Copyright © 2020 KTRK-TV. All Rights Reserved.