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Thu Oct 24, 2019, 01:24 PM

2 guilty in $1B fraud as feds auction Burt Reynolds Trans Am

Source: Associated Press

2 guilty in $1B fraud as feds auction Burt Reynolds Trans Am

By DON THOMPSON
October 22, 2019

SACRAMENTO, Calif. (AP) — Two employees of a San Francisco Bay Area solar energy company pleaded guilty Tuesday to participating in what federal prosecutors say was a massive scheme that defrauded investors of $1 billion.

While the company’s owners have not been charged, they agreed to let the government auction their collection of 150 classic, performance and luxury vehicles, including a 1978 Pontiac Trans Am once owned by Burt Reynolds.

The replica of the car the late actor drove in “Smokey and the Bandit” and the other vehicles are to be auctioned Saturday, with online bidding already pushing the accumulated value past $5.5 million.

Bidding on that Trans Am alone had topped $65,000 by late Tuesday. The auction company said it had been driven less than 3,400 miles (5,472 kilometers).

It’s the largest single-owner car collection ever auctioned by the U.S. Marshals Service. Chief Deputy U.S. Marshal Lasha Boyden of the Sacramento office called it “a stunning collection of vehicles” that also includes classic 1960s Ford Mustangs, 1990s Humvees and a 1960 Austin-Healey.

-snip-


Read more: https://apnews.com/122342110b5846a891a6b63afac042b6


FILE - In this Sept. 16, 2019 photo, McGregor Scott, U.S. Attorney for the Eastern District of California, stands next to a 1967 Ford Shelby GT 500, that was seized along with other cars by the federal government that are now housed in a warehouse in Woodland, Calif. Two employees of a defunct San Francisco Bay Area solar energy company pleaded guilty Tuesday, Oct. 22, 2019, to participating in what federal prosecutors say was a massive $2.5 billion fraud scheme that defrauded investors of $1 billion. It’s the largest single-owner car collection ever auctioned by the U.S. Marshals Service, with vehicles to be auctioned off on Wednesday. (Randy Pench/The Sacramento Bee via AP)

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Reply 2 guilty in $1B fraud as feds auction Burt Reynolds Trans Am (Original post)
Eugene Oct 24 OP
Boxerfan Oct 24 #1
SonofDonald Oct 24 #3
dweller Oct 24 #2
discntnt_irny_srcsm Oct 24 #6
SonofDonald Oct 24 #4
discntnt_irny_srcsm Oct 24 #5
gibraltar72 Oct 24 #7

Response to Eugene (Original post)

Thu Oct 24, 2019, 01:34 PM

1. Top rh- 4(!!) Superbirds.....

If real in excess of a million right there.

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Response to Boxerfan (Reply #1)

Thu Oct 24, 2019, 02:14 PM

3. My Dad had a chance at a yellow Superbird Hemi

With a new factory replacement Hemi for $1200

Mom decided that as my older Sister was 16 and I was 14 that it wasn't going to happen

I rode in the backseat over the Narrows Bridge at over 120 mph and I wanted it in our garage

What a car

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Response to Eugene (Original post)

Thu Oct 24, 2019, 01:41 PM

2. how much for the red Beetle?

no,
check that... the dark olive green (maybe teal) Type IV the 2 guys are standing behind?
oh and is that a cream ghia beside it? swoon...
would love to get my hands on either 😎

✌🏼

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Response to Eugene (Original post)

Thu Oct 24, 2019, 02:15 PM

4. Makes me wonder how they collected

All these cars without investors getting curious?

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Response to Eugene (Original post)

Thu Oct 24, 2019, 02:23 PM

5. For those with more $ than me:

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Response to Eugene (Original post)

Thu Oct 24, 2019, 02:34 PM

7. High end auto auctions

have been inhabited by rich low lives for a very long time.

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