The End of Farnbacher Loles
#46
Burning Brakes
Wasn't the idea of a tube frame 911 for Grand-Am? Porsche's factory support (at least for FL) was for ALMS, I thought....
#47
I'm Still Jenny
Rennlist Member
Rennlist Member
Yes, but Porsche doesn't want a tube frame 911 at all. Zey can't pick and choose vich direktives zey comply vith - build a car zat Stuttgart doesn't vant and loose ze support.
#48
Burning Brakes
#50
Rennlist Member
Loles behond bars
Murphy The Bear (sportcar site) reports that "Loles now in slammer, arrested by FBI, charged with wire fraud and mail fraud."
#51
Rennlist Member
#53
"...Loles admitted to federal agents that he embezzled the funds, according to arrest warrant affidavit. In court documents Loles states that none of the funds are left."
Dam! that really sucks...
Dam! that really sucks...
#54
According to the affidavit attached to the article below, Loles admitted to the FBI on Dec 9th that he embezzled funds and used them to operate his racing team and dealership!
http://nhregister.com/articles/2009/...5382522372.txt
http://nhregister.com/articles/2009/...5382522372.txt
#55
Addict
Lifetime Rennlist
Member
Lifetime Rennlist
Member
There fixed it. Remember Ivan Boesky?
#57
Burning Brakes
Join Date: Oct 2008
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Looks like the losses are possibly up to $8 Million or so.
http://dailyme.com/story/20091216000...s-federal.html
http://dailyme.com/story/20091216000...s-federal.html
#59
Nordschleife Master
Question?
If you're going to steal 8 million dollars, why would you ever blow it in 5 years of racing. I would think you could stretch it a lot further in many different ways.
None of this makes any sense to me and I think it is a tradgey.
If you're going to steal 8 million dollars, why would you ever blow it in 5 years of racing. I would think you could stretch it a lot further in many different ways.
None of this makes any sense to me and I think it is a tradgey.