149 rare cars of the creator of the financial pyramid will be sold at auction

149 rare cars of the creator of the financial pyramid will be sold at auction

October 18, 2019 0 By autotimesnews

All these cars belonged to Jeff Karpoff. A former auto mechanic created the quite successful DC Solar, but FBI agents arrested him for fraud. A rich automotive collection was put up for auction later this week in California.

The auction house “Apple Auctioneering” on October 26 organizes an open auction in California, where they will put up for sale a “motley” collection of 149 cars owned by Jeff Karpoff, who was accused of creating a financial pyramid. The businessman selected cars in his collection in such a way that they could illustrate almost all the important milestones in the history of the automotive industry. This is not only classic American cars in the face of muscle cars and hot births, but also a rich list of prominent European models.

So, in this collection there are four copies of the Hummer H1, 12 Chevrolet Camaro of different generations, nine Dodge Challenger, including the 852-horsepower SRT Demon, four Fiat 500, seven Ford Mustangs, three Chevrolet El Camino and others.

In this collection was even the 1978 Pontiac Firebird Trans Am, which at one time belonged to the famous actor Bert Reynolds.

Jeff Karpoff began his career as a simple auto mechanic, he later created his own repair shop specializing in Land Rover and Jaguar cars. In 2008, he founded the company DC Solar, which began producing solar panels and telecommunications equipment. The company managed to attract about $ 800 million of investments by offering tax breaks.

At the end of last year, Jeff was accused of creating a financial pyramid. It turned out that the company did not actually produce the declared amount of equipment, and the money of the new investors went to pay the old ones. It is known that all the money that can be collected during the auction will go to pay defrauded investors.