ALMS GT2 Rumors and Speculation - Not looking good for Porsche
12-08-2009, 12:50 AM
#32
Race Director
Join Date: Oct 2004
Location: KC ex pat marooned in NY
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Just talikin' with their newest Koni series driver, Marsals(sp), nice guy. He said he was co-driving their new BMW m3 Koni entry with Lux, and they were looking to make a three car FL Koni team. That was two weeks ago, I guess things can change in a hurry.
Since you're in their neck of the woods, why not check it out and post your findings.
c
Since you're in their neck of the woods, why not check it out and post your findings.
c
12-08-2009, 10:04 AM
#38
Drifting
Join Date: May 2003
Location: Charlotte, NC
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12-08-2009, 10:51 AM
#39
Race Director
Join Date: Oct 2004
Location: KC ex pat marooned in NY
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There is at least one in the Ct shop, it was being delivered the day I was there, whether it's still there???
I'm supposed to be up there next week, I'll have my ears open.
I'm supposed to be up there next week, I'll have my ears open.
12-08-2009, 11:04 AM
#40
Instructor
Join Date: Feb 2003
Location: jersey
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heres some interesting stuff I found
ORANGE — The investigation into a potentially massive embezzlement of
St. Barbara Greek Orthodox Church funds is centering on the man placed
in charge of the church’s investments, who has been identified by
multiple sources as Gregory Loles.
Loles was in charge of managing the church’s building fund and
endowment, and several church members allowed Loles to handle their
personal retirement and college investments, several sources within
the church community said.
As the federal investigators begin looking at the case, state Attorney
General Richard Blumenthal said his office is reviewing facts to
determine whether state laws were broken. But the U.S. Department of
Justice has the lead in the investigation, he said.
“Sadly and tragically, this potential fraud seems to be of massive
magnitude — making the federal investigation and involvement very
appropriate,” Blumenthal said. “We are reviewing whether there are
potential violations of state statutes and how we can pursue them and
aid the federal investigation. We understand the FBI is actively
involved, and we would commonly defer to federal criminal authorities
in their criminal investigation. But there may well be state statutes
that merit our investigation.”
Several parishioners at a private emergency meeting held Sunday
afternoon to explain to parishioners the potential fraud asked, but
were not told, how Loles came to be in charge of the money, which
could total more than $1 million, according to two church members who
spoke on condition of anonymity.
Calls placed to Loles’ home in Easton, and a Porsche dealership and
service center he owns in Danbury, were not returned.
Joseph Martini, an attorney representing the church, remained
tight-lipped about specifics Monday.
“I have been very careful in saying we are a possible victim of a
fraud here. The FBI has been contacted, and I think they should be the
ones to investigate this,” Martini said. “We are also conducting our
own investigation and will share information in any way that can help
the FBI. Clearly, the FBI is doing its investigation, and we’re doing
our own investigation to try to figure out what happened.”
The church community had recently raised millions to help finance a
$6.3 million building project.
Asked what assurances parishioners have future donations will be safe,
Martini responded: “It would be safe to say the church is going to do
everything in its power to make sure any money and donations given to
the church will be in safe hands.”
The depth of the alleged fraud is believed to extend beyond church
funds to individual church members.
People at the emergency meeting said they had invested entire
retirement savings and college funds with the man placed in charged of
the church’s finances, state Rep. Themis Klarides, R-Derby, said after
the meeting.
One person at the meeting claimed to have lost $4 million, sources said.
Assistant Police Chief Edward Koether said he has been in contact with
the church’s lawyer and is leaving the investigation to the FBI,
unless local police participation is requested.
“It’s a case that best fits their (the FBI’s) expertise,” Koether said.
Blumenthal said federal authorities have broader laws and jurisdiction
that are likely more applicable to a potential financial fraud.
“The reason for deferring to federal criminal authorities is they have
stronger and broader laws that can produce more effective remedies in
cases of fraud that may cross state lines, and clearly there is a
multi-state aspect to this potential crime,” Blumenthal said. “We are
prepared to investigate as long as it will not interfere with the
federal inquiry, which we will seek to assist.”
An FBI spokesman could not be reached for comment.
In 1995, Loles registered a finance firm called Apeiron Capital
Management Inc. with the secretary of the state. Ads for Apeiron
Capital Management listing Loles’ name and a now non-working telephone
number ran in church newsletters as late as 2007.
But according to a 1997 Securities and Exchange Commission news
release, Apeiron’s broker-dealer registration with the regulatory body
was canceled that year for failing to “comply with applicable
requirements of the Securities Investor Protection Corp.” or failing
to “be a member of a self-regulatory organization.”
SEC registration is required for handling more than $25 million of
total investments. A search of state databases shows no record of
Loles being a certified financial planner.
Loles is also registered with the secretary of the state as the
principal of Farnbacher Loles Motor Sports, LLC., a Porsche dealership
and service center that has a racing team.
The business is near Danbury Municipal Airport. Farnbacher Loles Motor
Sports also has a racing team that operates on both sides of the
Atlantic Ocean, according to the company’s Web site.
Church members have been reluctant to talk publicly about the alleged
embezzlement, and church officials told parishioners it is a private
matter and should not be discussed with the press.
Reached by phone, former church council President James Bitzonis said:
“Our attorneys are handling it and I’ll leave it to them to speak.”
St. Barbara Greek Orthodox Church funds is centering on the man placed
in charge of the church’s investments, who has been identified by
multiple sources as Gregory Loles.
Loles was in charge of managing the church’s building fund and
endowment, and several church members allowed Loles to handle their
personal retirement and college investments, several sources within
the church community said.
As the federal investigators begin looking at the case, state Attorney
General Richard Blumenthal said his office is reviewing facts to
determine whether state laws were broken. But the U.S. Department of
Justice has the lead in the investigation, he said.
“Sadly and tragically, this potential fraud seems to be of massive
magnitude — making the federal investigation and involvement very
appropriate,” Blumenthal said. “We are reviewing whether there are
potential violations of state statutes and how we can pursue them and
aid the federal investigation. We understand the FBI is actively
involved, and we would commonly defer to federal criminal authorities
in their criminal investigation. But there may well be state statutes
that merit our investigation.”
Several parishioners at a private emergency meeting held Sunday
afternoon to explain to parishioners the potential fraud asked, but
were not told, how Loles came to be in charge of the money, which
could total more than $1 million, according to two church members who
spoke on condition of anonymity.
Calls placed to Loles’ home in Easton, and a Porsche dealership and
service center he owns in Danbury, were not returned.
Joseph Martini, an attorney representing the church, remained
tight-lipped about specifics Monday.
“I have been very careful in saying we are a possible victim of a
fraud here. The FBI has been contacted, and I think they should be the
ones to investigate this,” Martini said. “We are also conducting our
own investigation and will share information in any way that can help
the FBI. Clearly, the FBI is doing its investigation, and we’re doing
our own investigation to try to figure out what happened.”
The church community had recently raised millions to help finance a
$6.3 million building project.
Asked what assurances parishioners have future donations will be safe,
Martini responded: “It would be safe to say the church is going to do
everything in its power to make sure any money and donations given to
the church will be in safe hands.”
The depth of the alleged fraud is believed to extend beyond church
funds to individual church members.
People at the emergency meeting said they had invested entire
retirement savings and college funds with the man placed in charged of
the church’s finances, state Rep. Themis Klarides, R-Derby, said after
the meeting.
One person at the meeting claimed to have lost $4 million, sources said.
Assistant Police Chief Edward Koether said he has been in contact with
the church’s lawyer and is leaving the investigation to the FBI,
unless local police participation is requested.
“It’s a case that best fits their (the FBI’s) expertise,” Koether said.
Blumenthal said federal authorities have broader laws and jurisdiction
that are likely more applicable to a potential financial fraud.
“The reason for deferring to federal criminal authorities is they have
stronger and broader laws that can produce more effective remedies in
cases of fraud that may cross state lines, and clearly there is a
multi-state aspect to this potential crime,” Blumenthal said. “We are
prepared to investigate as long as it will not interfere with the
federal inquiry, which we will seek to assist.”
An FBI spokesman could not be reached for comment.
In 1995, Loles registered a finance firm called Apeiron Capital
Management Inc. with the secretary of the state. Ads for Apeiron
Capital Management listing Loles’ name and a now non-working telephone
number ran in church newsletters as late as 2007.
But according to a 1997 Securities and Exchange Commission news
release, Apeiron’s broker-dealer registration with the regulatory body
was canceled that year for failing to “comply with applicable
requirements of the Securities Investor Protection Corp.” or failing
to “be a member of a self-regulatory organization.”
SEC registration is required for handling more than $25 million of
total investments. A search of state databases shows no record of
Loles being a certified financial planner.
Loles is also registered with the secretary of the state as the
principal of Farnbacher Loles Motor Sports, LLC., a Porsche dealership
and service center that has a racing team.
The business is near Danbury Municipal Airport. Farnbacher Loles Motor
Sports also has a racing team that operates on both sides of the
Atlantic Ocean, according to the company’s Web site.
Church members have been reluctant to talk publicly about the alleged
embezzlement, and church officials told parishioners it is a private
matter and should not be discussed with the press.
Reached by phone, former church council President James Bitzonis said:
“Our attorneys are handling it and I’ll leave it to them to speak.”
12-08-2009, 11:38 AM
#42
Rennlist Member
Holy cow! Wow, you couldn't make this stuff up!! Crooks, Suckers, and Racing: The Reality Show.
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