Saturday, December 31, 2011

Who founded the Greatest Luxury Cars in America's history?

Henry Leland founded the Cadillac Motor Car Company, turning out his first automobile in 1903. In 1909, he sold the company to General Motors.


1909 Cadillac Model 30

He was turned down by GM to build Liberty aero engines during World War I. 

His favorite President had been Abraham Lincoln. Thus, in 1917, at the age of 74, Leland founded the Lincoln Motor Company to build those engines.  This was the birth of the second of America's greatest luxury cars. After World War I, Henry Leland resumed building cars. He had his first Lincoln model on the road by 1921.



1921 Lincoln Model L



Thus Cadillac and Lincoln were founded by the same man.

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Friday, December 30, 2011

Classic Car Buyers Beware!

6 indicted in Internet-based car-selling scheme

 This is off the Los Angeles AP 12/29/11


I found this article and wanted to share it with my Classic Car friends: 
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A federal grand jury indicted six foreign nationals on charges that they defrauded hundreds of customers out of more than $4 million in bogus Internet car sales, federal prosecutors said Thursday.

The 24-count indictment returned Wednesday alleges a scheme in which vehicles were offered for sale on legitimate websites that deal in auto trading, according to a statement from the U.S. attorney's office.

The six defendants — from Germany, Russia, Romania and Latvia — are accused of collecting payments from hundreds of would-be buyers nationwide, siphoning millions of dollars to Europe and never delivering a vehicle, the indictment said.

Authorities identified the alleged leaders of the scam as Corneliu Stefan Weikum, 37, a Romanian national, and Yulia Meshina-Heffron, 23, a native of Yekaterinberg, Russia. Both are in federal custody in Nevada on charges related to bulk cash smuggling.

Weikum monitored the fraudulent bank accounts to determine if funds had been deposited, the indictment said. The money was then withdrawn — primarily in cash — and delivered to Weikum and Mishina. The two then allegedly wired the money from the United States to other countries, mailed the funds in concealed packages to Berlin, or concealed the funds in personal carry-on luggage while traveling to Germany, according to the indictment.

At least 110 bank accounts were opened to fraudulently receive the funds, according to the indictment. From September 4, 2007 until October 5, 2010, victims deposited at least $4 million into the accounts.

"This case demonstrates our ability to track down even the most sophisticated fraud artist who attempted to hide behind false identities and the perceived anonymity of the Internet," said U.S. Atty. André Birotte Jr.

The defendants face charges including conspiracy to commit bank and wire fraud and money laundering. If convicted, each could face sentences totaling hundreds of years in federal prison.

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