Kiefer Sutherland Loses $869K From Fraud Investment Scheme

January 27, 2010 8:11 a.m. EST

Los Angeles, CA, United States (CNS) - "24" main man Kiefer Sutherland has lost $869,000 in a rip-off investment scheme. The 43-year-old actor is just one of several victims of Michael Wayne Carr, who enticed investors to fork out cash for a cattle deal that turns out to be a fraud.

Court documents, obtained by TMZ, state that after Sutherland profited more than $100,000 in a previous deal with the suspect, he was lured into investing more. He gave $550,000 in 2006 for a cattle deal, in which Carr allegedly said he would buy cattle in Mexico and resell them in the U.S. at a huge profit.

Within 30 days after his first investment, Carr wired him $685,000, giving the actor a $130,000 profit.

Carr allegedly approached his financial advisors with a similar deal, but this one would require an $869,000 investment. Sutherland told authorities that his financial team approved the deal and forked over the cash. But the money disappeared.

Sutherland has never met or spoken with Carr.

The suspect later confessed that he "doctored" the paperwork to trick Sutherland's team into signing the deal. He also admitted that he used the money to pay off a huge bank debt.

Carr is now charged with 12 felonies: five counts of grand theft with "great taking enhancements," three counts of forgery, two counts of obtaining money by false pretenses, and one count each of embezzlement and falsifying corporate books.

He could face 18 years in prison if found guilty.