Farnbacher Loles no more - Page 2

burbanite · 8 Dec 2009, 19:01 (Ref:2596230)

Quote:

Originally Posted by TWK

Murphy the Bear reporting on Greg Loles' implication in alleged "massive" fraud involving Connecticut church.

See link above.

More than just the church. Massive fraud at a federal level, race shop in Danbury being stripped of everything movable as we speak.

Need some way to support this kind of lifestyle...

Canada ALMS fan · 8 Dec 2009, 21:23 (Ref:2596322)

Wow! Didn't see this coming. What's will all the fraudsters in sportscars over the years?

td2001 · 9 Dec 2009, 02:00 (Ref:2596426)

Its when normal, smart business people have a microphone put in their face in front of X million people that they park any brains they ever professed to have!

picchiofan · 9 Dec 2009, 14:26 (Ref:2596689)

Quote:

Originally Posted by Canada ALMS fan

Wow! Didn't see this coming. What's will all the fraudsters in sportscars over the years?

Gee, who'd have ever thought that a sport which encourages exorbinant spending by "privateers" and other money marks with minimal oversight would also be a target for fraudulent individuals?

Jonerz · 9 Dec 2009, 14:30 (Ref:2596691)

Quote:

Originally Posted by picchiofan

Gee, who'd have ever thought that a sport which encourages exorbinant spending by "privateers" and other money marks with minimal oversight would also be a target for fraudulent individuals?

Exorbitant.

Chris

picchiofan · 9 Dec 2009, 15:22 (Ref:2596720)

Quote:

Originally Posted by Jonerz

Exorbitant.

Chris

Thank you for noticing the typo.

This image is completely inappropriate on this board.

burbanite · 9 Dec 2009, 17:11 (Ref:2596778)

Third day of bustling activity.

A long convoy of Porsches leaving, many trailer loads of equipment etc heading over to the VW/Audi/body shop division to be stored.

Loles is purported to be missing...

airbusA346 · 9 Dec 2009, 17:48 (Ref:2596796)

Does anyone know who owns the GT3 RSR?

Tom.

TWK · 9 Dec 2009, 19:02 (Ref:2596833)

Quote:

Originally Posted by airbusA346

Does anyone know who owns the GT3 RSR?

Tom.

Yes. Porsche does.

blue40 · 9 Dec 2009, 21:45 (Ref:2596936)

Dear me, bad situation for everyone concerned really. I wonder if he's is still in the country.

airbusA346 · 9 Dec 2009, 21:46 (Ref:2596937)

Quote:

Originally Posted by TWK

Yes. Porsche does.

So it is/was leased then.

Tom.

TWK · 11 Dec 2009, 16:08 (Ref:2597987)

Quote:

Originally Posted by airbusA346

So it is/was leased then.

Tom.

Not necessarily. The Spyder and 911 in Florida a couple of years ago weren't leased.

Canada ALMS fan · 11 Dec 2009, 18:05 (Ref:2598046)

Quote:

Originally Posted by TWK

Not necessarily. The Spyder and 911 in Florida a couple of years ago weren't leased.

Where is that Spyder now?

TheMightyM · 27 Feb 2014, 03:04 (Ref:3372577)

I did a quick search, and this seems like the most logical place to post this. And, yes, the title of this Marshall Pruett article does kind of say it all: “25-year prison sentence for former ALMS entrant Greg Loles”

More detailed coverage though comes from some Connecticut sources. Here's quote:

Quote:

"You are the most sinister defendant I have ever sentenced for this category of crime," U.S. District Judge Alvin W. Thompson told Loles Wednesday while incarcerating him on charges of mail, wire and securities fraud and money laundering. "Your victims were among the most vulnerable -- elderly living on fixed income or in ill health. They were not nameless, faceless strangers or casual acquaintances. They were people you knew well and you projected yourself as the person who could be leaned on assuring them their money was safe with you."

mountainstar · 27 Feb 2014, 03:50 (Ref:3372584)

Quote:

Originally Posted by TheMightyM

I did a quick search, and this seems like the most logical place to post this. And, yes, the title of this Marshall Pruett article does kind of say it all: “25-year prison sentence for former ALMS entrant Greg Loles”

More detailed coverage though comes from some Connecticut sources. Here's quote:

Sad, pathetic and destructive, it appears he got a well deserved sentence and hopefully they can recover at least some of the funds by selling any assets.

truebeliever · 27 Feb 2014, 18:27 (Ref:3372847)

At the time that Loles was living it high on other people's money. many people in the ALMS paddock openly talked about that he was a crook.

Seems to me that many companies involved with dealing with the Loles and Tuckers of the world per se, have a total lack of due diligence in seeing where the money is coming from, or don't care. So are they any better than these low life people in their ethics?

rwintle · 28 Feb 2014, 21:49 (Ref:3373358)

This took so, so long for him to be sentenced (I'm thinking two years since the guilty verdict? - if the ALMSfans forum was still accessible I'd point to my thread on the topic there).

Anyway, yes, Greg Loles is finally dinged for 25 years, less time served since December 2009.

There's another article from the New Haven Register, which has been following the sentencing saga all along:

http://www.nhregister.com/general-ne...ed-to-25-years

Couldn't have happened to a nicer guy <- that is sarcasm.

Lagunaseca_4life · 1 Mar 2014, 03:27 (Ref:3373448)

Quote:

Originally Posted by rwintle

This took so, so long for him to be sentenced (I'm thinking two years since the guilty verdict? - if the ALMSfans forum was still accessible I'd point to my thread on the topic there).

Anyway, yes, Greg Loles is finally dinged for 25 years, less time served since December 2009.

There's another article from the New Haven Register, which has been following the sentencing saga all along:

http://www.nhregister.com/general-ne...ed-to-25-years

Couldn't have happened to a nicer guy <- that is sarcasm.

Hey rwintle!the Almsfans forum is back up and has been open for a month or to now just so you know

rwintle · 4 Mar 2014, 19:02 (Ref:3375007)

Quote:

Originally Posted by Lagunaseca_4life

Hey rwintle!the Almsfans forum is back up and has been open for a month or to now just so you know

Holy crap! How did that happen? Guess I'll go over there and have a look... thanks for the tip!