Investment manager targeted in church loss

http://www.autoblog.com/2009/12/08/breaking-farnbacher-loles-principal-reportedly-embezzled-funds/

 

http://www.autoblog.com/2009/12/08/breaking-farnbacher-loles-principal-reportedly-embezzled-funds/

 

wow, stealing from a church too. classy.

 

http://maps.google.com/maps?oe=utf-8&rls=org.mozilla:en-USfficial&client=firefox-a&q=451+Judd+Rd++++Easton++CT+06612&um=1&ie=UTF-8&hq=&hnear=451+Judd+Rd,+Easton,+CT+06612&gl=us&ei=nIohS-yhMJGcsgPL7I3dBA&sa=X&oi=geocode_result&ct=image&resnum=1&ved=0CAsQ8gEwAA

 

Farnbacher must have seen this coming as he split with Loles at the end of the 2009 season. Too bad because they were a competitive team with quality drivers.

Stealing from a church...Bernie Madoff thinks this guy is a scumbag.

Add Loles to the long list of unsavory characters in the racing world.

 

What a jerk!!!

 

Bernie stole from Churches too. Birds of a feather spending other people's money.


Nothing like a down economy to reveal all of the ponzi's out there.

 

Thread retitled - will be merged with duplicate

 

on the plus side, he's close to Danbury

 

This is the second thread you've started on this subject, Jerome. Not at PRI?

 

could make PRI but my brother Joe will be there holding the torch!

 

Robbing preachers! What happened to smuggling drugs? Come on IMSA guys, your slacking.

And we also won't get to see Magnuson slamming one of their P-Cars into the wall 1st race of 010.

 

Where in this sketchy blurb does it say that the FBI has seized the team? It just says "federal authorities are involved".

 

You will, that was a Flying Lizard car that tangled with Jan.

 

The images on maps.live.com (bing / M$) are so much better! http://tinyurl.com/y9nklf9

 

Yes, what was I thinking. From the race before.
Image Unavailable, Please Login

 

My brother was at the Tire Test at Daytona Speedway this week and several employees from Farnbacher Loles were there looking for work for the 2010 season. They stated that the feds came in and confiscated all the cars AND all the equipment from the facility and that it is officially over for Farnbacher Loles. On the Pelican Parts website someone was quoted as saying that he lives right down the street from the shop and tractor trailers were in and out all week removing everything. Another poster said that Greg Loles tried to committ suicide.
On a different note I competed against these guys this year at the Rolex 24 at Daytona where we finsihed 10th in GT. We are a small family based sportsmen team with all volunteer crew and are self funded. Something my brother said after hearing about the Farnbacher Loles team which had 5 cars in the race made me think. He said that he nows feels that we were not competing on a level playing field with a team like this considering they were using stolen funds and ill gottens gains to compete....hmmmmmm

 

There is a bit of misinformation in your postings.

No where in the article you link to does it state that the Race Teams assets were seized by the FBI.

AFAIK the cars and equipment were not seized by the FBI but were moved to the
Danbury Facility.

No where in anything you've cited does it say that Farnbacher is in any way implicated in any illegal activity.

Do you know for a fact that Farnbacher has been accused of doing anything illegal at all?

 

Here's the original article.

http://www.nhregister.com/articles/2009/12/08/news/metro/doc4b1e3fbec24a9726016016.txt

No where within is it stated: "Farnbacher Loles seized by FBI" or that Farnbacher or The Farnbacher Loses Race Team was in any way involved in this alleged crime.

 

this brings back fond memories of the imsa good ole days back in the 80's.

 

Those were the days my friend.

 

I was just a fan with access and insides. Fees with bundled $100's. I was in a driver's PR meeting when John Paul Jr. just got out of jail. A guy from the Columbian Free Press, I think, was a surprise to all and ask JP how he felt about being here today with his racing career financed by drug money while the people of Columbia suffered. There was a hush, and the Q&A with the drivers stopped.

This guy had stalked JP to his first race out of jail.

 

i tested barber saab's w/ jp jr. @ moroso in 1991. i remember thinking i was going to dislike the guy no matter what...i had made up my mind, i had no interest in a guy that raced in a program that was funded as it had been.

well long story short, two great days of testing and jr. had won me over. he was also a true pro and really understood vehicle dynamics. he had come a long way from the day when he wanted to prove to everyone that he could hold his lola 440 ff flat in 4th gear through turn one at road a...he did not have as good a handle on vehicle dynamics back then!!

pcb

 

JP Jr was just a kid sucked into his Dad's world

 

Employees of said company FARNBACHER-LOLES were looking for work in Daytona saying the race facility is SHUT DOWN. Look on Pelican Parts website thread. THAT is where I got my information Jim. Not from some stupid press release a local paper released.