2 guilty in $1B fraud as feds auction Burt Reynolds Trans Am

FILE - In this Sept. 16, 2019 photo, McGregor Scott, U.S. Attorney for the Eastern District of California, stands next to a 1967 Ford Shelby GT 500, that was seized along with other cars by the federal government that are now housed in a warehouse in Woodland, Calif. Two employees of a defunct San Francisco Bay Area solar energy company pleaded guilty Tuesday, Oct. 22, 2019, to participating in what federal prosecutors say was a massive $2.5 billion fraud scheme that defrauded investors of $1 billion. It’s the largest single-owner car collection ever auctioned by the U.S. Marshals Service, with vehicles to be auctioned off on Wednesday.

SACRAMENTO, Calif. (AP) — Two employees of a San Francisco Bay Area solar energy company have pleaded guilty to participating in what federal prosecutors say was a massive scheme that defrauded investors of $1 billion.

Investigators say the owners, who have not been charged, accumulated nearly 150 often exotic vehicles, including a 1978 Pontiac Trans Am once owned by Burt Reynolds.

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