Feds Net More Than $8M In Auction Of Nearly 150 Classic, Luxury Cars
WOODLAND (CBS13) – The U.S. Marshals Service says their auction of nearly 150 classic and luxury cars seized from the owners of a defunct solar company netted more than $8 million in sales.
DC Solar was a Bay Area energy company that federal prosecutors allege defrauded investors of $1 billion.
As part of the investigation, the two owners of DC Solar had their vehicles and other assets seized by the feds. The owners, who have yet to be charged with any crime, allowed the vehicles to be auctioned off – saying it was expensive to store them.
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Despite the owners not being charged at this point in the investigation, two employees of DC Solar pleaded guilty last week to participating in the fraud scheme.
Saturday, the U.S. Marshals Service held the live auction of the vehicles in Woodland.
In total, 148 classic, luxury and performance vehicles were auctioned off. A 1978 Firebird that was once owned by Burt Reynolds was among the cars auctioned, selling for $181,000.
A 2018 Prevost Motor coach fetched the highest price in the auction, going for $1,051,225.
The cheapest item sold was a 2015 Honda dirt bike that went for $4,000.
If DC Solar's owners are never convicted, the proceeds from the auction will go back to them. If they are convicted, the money will go to victims of the alleged fraud scheme.