McClure agrees to plead guilty to tax fraud charges

Larry McClure, a co-founder of Morgan-McClure Motorsports, has agreed to plead guilty to tax fraud charges.

Assistant U.S. Attorney Randy Ramseyer said Wednesday that in exchange for Larry McClure's pleas, prosecutors will dismiss fraud charges related to the painting of show-car trailers.

McClure

But he says McClure has agreed to make restitution of nearly $60,000 related to those charges.

Morgan-McClure Motorsports has 14 wins, 63 top-five finishes and 146 top-10s in 702 starts in the Cup Series.

The team debuted on June 19, 1983, at Michigan with driver Mark Martin. He finished 27th.

Ernie Irvan won the 1991 Daytona 500 driving the team's No. 4 Chevrolet. Sterling Marlin, who finished runner-up to Irvan in 1991, won the 1994 and 1995 Daytona 500s for Morgan-McClure Motorsports. Marlin was third in the point standings in '95, the team's highest season finish.

The team's last victory came on April 20, 1998, at Martinsville Speedway with driver Bobby Hamilton.

Morgan-McClure Motorsports made 16 starts with driver Ward Burton. The team's final race was Oct. 21, 2007, at Martinsville.

A hearing is scheduled Jan. 15 in U.S. District Court to receive the pleas.

Ramseyer says McClure will plead guilty to three counts of filing false tax returns and two counts of obstructing the investigation. McClure faces a maximum of 15 years in prison and a $250,000 fine on each count.

A call to McClure's attorney, Wayne Austin, was not immediately returned.

The Associated Press contributed to this report.