Posted on 10/18/2019 11:49:00 AM PDT by DFG
An incredible collection of nearly 150 classic and modern cars is coming up for auction, but they each come with a conflicted history.
The cars were seized by the feds from the owners of DC Solar, who have been accused of running the bankrupt solar-powered generator company as an $800 million Ponzi scheme.
Jeff and Paulette Carpoff haven’t been charged with any crimes as of yet, according to the U.S. Attoney’s office, but their situation remains under investigation. In the meantime, the Carpoffs and the Department of Justice agreed to hold an interlocutory sale and put the proceeds into a seized asset account, rather than continue to incur expenses for the storage and maintenance of the vehicles. The sale is being handled by the U.S. Marshals Service and Apple Auctioneering Co. in Woodland, Calif.
(Excerpt) Read more at foxnews.com ...
Woodland CA? I’m heading there. As long as there’s a vintage Corvette made before 1980..
A Solar Power scam? Who’da thunk it?
That is disgusting. Unless and until they are convicted, the feds are responsible for storing their property safely. We cannot take personal property and then auction it off because it’s costing us money to store the property that we took.
Is Carpoff pronounced CARP-off or is it pronounced CAR-pooff?
Most of the cars were crap, except for that 1970 Superbird. Who really wants a 1985 IROC-Z or a 1977 Screaming Chicken TransAm? Guy\Company was a sh*tty collector. Not a 1970 LS-7 Chevelle SS, Gul-Wing Mercedes or a 1964 Stage 3 Max Wedge Dodge in the lot. A Tesla in a car collection..really? No wonder they went under.
Finally....after over 15 years.
Wow, they don’t know anything about Solar Power or collectable cars.
How hard is it?
Buy Italian, buy Italian...
“Who really wants a 1985 IROC-Z or a 1977 Screaming Chicken TransAm? “
Both of those cars are hot right now. People are buying cars from their youth-does not matter they were slugs performance wise.
Collector cars dealers cannot keep nice examples of these cars on their lots. Pristine survivors are going up 10-15% every year or more.
I did and the cars...meh. As someone who restored old musclecars and has had everything from 1970 Z28-RS Camaro in a one of a kind black color, to a 1968 Hemi Dart GT to a 1965 L78 396 Corvette, this collection was done by a bean counter not a car guy. 1985 IROC-Z really, don't care if it went up from 25k to 28k and that's "HOT", the car is still a pig and needs to die in a rusty heaps. Know what I am talking about here, this collection is crap.
In the meantime, the Carpoffs and the Department of Justice agreed to hold an interlocutory sale and put the proceeds into a seized asset account, rather than continue to incur expenses for the storage and maintenance of the vehicles.The Carpoff's may not feel as rich as they once did and may be grateful to get this episode behind them as quickly and painlessly as possible. This is a bankruptcy sale, not a criminal proceeding.
:: Who really wants...1977 Screaming Chicken TransAm? ::
The Snowman?
The cars’s owners agreed to let the feds auction the vehicles now instead of storing them securely until the legal process takes its course. If the owners are found not guilty, they will get the proceeds of the sales. This is not a unique circumstance in the world of criminal asset forfeiture. The odds are that a quick sale of these assets will result in higher net proceeds than storing and maintaining them for a couple of years.
“Jeff and Paulette Carpoff haven’t been charged with any crimes as of yet...”
Must be democrats.
I wonder if Jay Leno plans to attend. Car guy, big time.
“Who really wants a 1985 IROC-Z “
You have something about dudes with mullets? ;)
Richie Rawlings?
Jay Leno is frothing at the mouth............
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