One year ago, we reported that Gregory Loles, team principal behind the well-regarded Farnbacher Loles racing outfit and Porsche performance shop, had gotten himself embroiled in an alleged fraud scheme. We hadn't heard much about the scandal since last December, but now the United States Attorney for Connecticut has announced that a federal grand jury has returned a 32-count indictment against Loles. Among the indictments, Loles is being charged with securities fraud, wire fraud, mail fraud and
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.