Two cars out of the Chip Ganassi Racing stables are set to head to auction following FBI raid of DC Solar
Last year, DC Solar was deeply embedded in the NASCAR community. They sponsored race teams, NASCAR events and planned to put Ross Chastain in a full-time Xfinity Series ride.
It all came to a halt with the FBI abruptly raided the DC Solar headquarters in addition to the home of CEO Jeff Carpoff back on December 18, 2018. The FBI was tipped from an employee within the company.
$65 million in bank accounts, cash and property were seized in the raid. The case is ongoing…
The Federal Bureau of Investigation’s stated that DC Solar was a ponzi scheme. The company lured new investors with assurances of a 30% tax credit of the total investment. They also had the ability to deduct depreciation of the generators for 5 years.
Those new investors only paid off the old investors. Warren Buffett’s Berkshire Hathaway company invested $340 million in DC Solar and took the hit in first quarter of 2019.
DC Solar has investors totaling sums of $675,649,000. But, money from financial institutions brought the total to $810,738,000.
The company told investors that no fewer than 12,000 MSGs (DC Solar generators) were out in use on the market. FBI agent Christopher Phillips pointed out that those number were greatly exaggerated and between 3,000 – 5,000 generators had actually been assembled.
A vast majority of generators were said to be in use. As the FBi tracked down the generators, they found nothing but a gps signal buried in the ground.
The company stated that they generated $90 million in leasing for generators in 2017 alone. An employee within the company did some digging of his own and came up with totals around just $2 million.
The other $88 million were just transfers from one company to the other (under the same ownership) to make it look like $90 million.
Meanwhile, company owners Jeff and Paulette Carpoff purchased nearly 100 cars, from vintage to luxury. They were stored in a warehouse in Benicia. $19 million was spent on a private jet service.
As you might have gathered, the company is now in bankruptcy. That was filed in February.
Global Partners is hosting an online auction. The auction is an order by the United Stated Bankruptcy Court of Nevada.
Several NASCAR race cars are included in the auction. This is the 4th DC Solar specific auction.
The online auction will take place on October 1, 2019 between 10am-2pm. The items will be picked up at 2250 Via De Mercados Concord, CA.
In the auction, Kyle Larson’s Daytona winner in the NASCAR Xfinity Series. The confetti remains at no additional charge.
It’s worth noting that the Daytona winner won on a rules infraction. Justin Haley crossed the finish line first but the pass was declared illegal as he went below the yellow line. Kyle Larson was declared the official winner.
Kyle Larson’s winning car will come without an engine or transmission. However, a second Xfinity car driven by Brennan Poole will come as the complete package.
-#42 2018 Daytona Xfinity Series winning car driven by Kyle Larson. Chip Ganassi Camaro chassis, No motor or transmission.
-#48 2017 Xfinity Series car. Chip Ganassi Camaro Chassis, Car looks to be a complete car with motor, transmission and rear end. Car appears to be new and never raced.
-(217) Carson Manufactured Heavy Duty All-Purpose Trailers, 5’x17′ & 6’x17′
-2008 Mercedes E350, Metallic Gray, Panoramic Moon Roof, Bluetooth/Navigation, 128,000 miles; ( Located in S.Cal )
-2002 Harley-Davidson FLHTCUI Ultra Classic Electra Glide – White ( Located in S.Cal )
-1998 Harley-Davidson FLSTF Fat Boy – Blue ( Located in S.Cal )
-1997 Harley-Davidson FLHR Road King – Black ( Located in S.Cal )
-2001 Harley-Davidson FLHR Road King – Blue ( Located in S.Cal )
-2005 Kawasaki ZX1000C2 Ninja ZX-10R – Orange ( Located in S.Cal )
-2004 BMW F650GS Dakar – Blue ( Located in S.Cal )