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Rolex Series driver behind Ponzi scheme that bilked fellow drivers out of $5.4M?

Henri Zogaib (pictured, right) raced for and helped support the Samax Motorsport team that raced in the Rolex Series. The support came in the form of cash and good living that supposedly came from investing in iron ore, but apparently the monies actually came from a Ponzi scheme. And as the Orlando Sentinel tells it, the fraud has unravelled, leaving fellow Series drivers like Ryan Dalziel (pictured left), J. C. France, and Eddy Hennessy among those out hundreds of thousands of dollars. Zogaib's lure was the 38.4% return-on-investment he ... Read more →

FOLLOWUP: Serious Fraud Office reportedly called in to investigate MG Rover collapse Jeremy Korzeniewski

REPORT: Tough times yield more insurance fraud cases Michael Harley

They're called owner "give-ups," and their rise is a sign of the tough economic times. Despondent over being financially strapped and unable to cover car payments, vehicle owners are ditching, ...

Daewoo's ex-chief receives jail sentence Eric Bryant

Kim Woo-choong, the founder and former head of the Daewoo Group, was sentenced to 10 years in a South Korean prison for embezzlement, accounting fraud, and various other white-collar crimes of ...

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Rolex Series driver behind Ponzi scheme that bilked fellow drivers out of $5.4M? 4 months ago on Autoblog

FOLLOWUP: Serious Fraud Office reportedly called in to investigate MG Rover collapse 5 months ago on Autoblog

The saga that is the collapse of MG Rover and the subsequent four-year government probe into what went wrong has just taken another sordid and oddly-timed twist. Lord Mandelson, Secretary of State for the British Labour Party, has told the Financial Times that he was under "obligation" to pass the ...

REPORT: Tough times yield more insurance fraud cases 5 months ago on Autoblog

They're called owner "give-ups," and their rise is a sign of the tough economic times. Despondent over being financially strapped and unable to cover car payments, vehicle owners are ditching, sinking, or torching their vehicles and reporting the loss to collect insurance payoffs. According to ...

Daewoo's ex-chief receives jail sentence 3 years ago on Autoblog

Kim Woo-choong, the founder and former head of the Daewoo Group, was sentenced to 10 years in a South Korean prison for embezzlement, accounting fraud, and various other white-collar crimes of the type typically committed when a large company goes down the tubes. In all, Woo-choong was said to ...

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Autoblog Podcast #157: Mike Levine trucks along with us.

Mike Levine from PickupTrucks.com joins Chris, Sam, and Dan this week and gets a chance to talk about cars, too!

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