Feds: Dallas Nonprofit Spent $2M Investment on Aston Martin, Super Bowl Bash

Ellis Wamsley IV told a North Texas company that its $2 million investment would be used for economic development projects throughout the U.S.

Wamsley’s nonprofit FAIM Economic Development Corp. in Dallas had promised on its website to “economically emancipate, educate and empower the community” with financial literacy education.

Instead, Wamsley and his chief operating officer, Kevin Kenard Howard, spent the money on themselves—for such things as luxury vehicles and a $100,000 Super Bowl party, federal authorities said.

Wamsley, 46, of Grand Prairie, Texas, and Howard, 33, of Dallas, were indicted Friday on wire fraud charges.