Ex-NASCAR owner McClure pleads guilty

Former NASCAR team owner Larry McClure said in a guilty plea agreement filed in Abingdon, Va., that he expects to be imprisoned on tax charges.

SceneDaily.com said Wednesday that in this week's filed agreement, the Morgan-McClure Motorsports co-founder acknowledged his plea would likely result in a substantial prison sentence of up to 15 years.

McClure had been accused of filing false tax returns during a three-year period ending in 2004 and with providing Internal Revenue Service investigators with false statements.

The five charges filed against McClure each hold a maximum prison sentence of three years and McClure cannot appeal the sentence he receives as part of his plea agreement.

The potential fines for the charges could reach $1.25 million, SceneDaily.com said.

No sentencing date has been scheduled as McClure will not formally enter his plea until Jan. 15, the Web site said.

McClure's NASCAR racing team did not enter a Cup car last year, but had previously competed in the racing league between 1983 and 2007.