There is some nice cars in this collection.
https://www.appleauctioneeringco.com/
https://www.foxnews.com/auto/car-collection-seized-bankrupt-d-c-solar-auction
There is some nice cars in this collection.
https://www.appleauctioneeringco.com/
https://www.foxnews.com/auto/car-collection-seized-bankrupt-d-c-solar-auction
OK this is really cool, and corrupt companies making bank of grants is awful, but I don't get it. Why would they purchase these cars under the company name? What happened here?
Maybe because if the cars are a "business expense" ie advertising or employee perks or something like that then you can avoid paying the income tax on the dollars used to purchase them.
They certainly had wide ranging tastes in cars...
they haven't been charged with any crimes, but the Feds are auctioning off their property...
In reply to AngryCorvair :
The owner was convicted of tax fraud/evasion... or maybe just charged, can't remember which.
His sponsorship of a NASCAR Cup team was removed quickly before this year's season started.
If I read the news article correctly the owners agreed to the auction as collection was part of a proceeds of crime case which is often civil rather than criminal in nature. The plan of a Ponzi scheme would be get the money into assets that can be liquidated and then run.
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