A Scottsdale man and his mother have been indicted for alleged wire fraud and conspiracy to commit money laundering.
Federal prosecutors say 52-year-old Frank Capri and 68-year-old Debbie Corvo of Cave Creek are accused of orchestrating the collapse of two county music branded restaurant chains in Arizona and across the country.
Court documents show Capri was arrested Wednesday and later arraigned in U.S. District Court in Phoenix.
He entered a plea of not guilty. His trial date was set for April 7.
According to the Arizona Republic, Capri’s company built 20 Toby Keith’s I Love This Bar and Grill restaurants beginning in 2009.
The newspaper says 19 restaurants closed in about 18 months, and Capri also was behind the financial ruin of 19 Rascal Flatts restaurant projects.
The Republic says Capri and Costa orchestrated the failure of 63 restaurant projects since 2013 that either closed after opening, were left unfinished or never started.
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It was unclear Thursday if either Capri or Costa have a lawyer yet.
The Associated Press contributed to this article