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Wednesday, May 07, 2003

Antique car auction

The U.S. Marshall's Service will hold an auto auction on Thursday night at the Illinois State Fair Grounds. On the auction block are 14 antique automobiles which were seized in an investment fraud case out of Mattoon. In a somewhat unusual turn of events, the proceeds from the auction will go to victims of the investment scheme.

The auction will be live on the Internet. Anyone can get in on the action and pre-bidding has already started at Aumann Auctions.

Among the newer vehicles up for sale are a blue 1967 Chevrolet Camaro RS Dragster with a single seat and a roll cage (can I get a woot!), and a 1954 blue-green Cadillac Fleetwood sedan with 67,000 miles. The oldest car is a restored 1911 Metz Runabout, dark green with brass lamps and an acetylene tank. Never heard of it.

More than 10,000 people around the world invested in the Omega scheme, which netted more than $20 million from 1994 to 2000.... Investors were promised a 50-to-1 return on their investment, though no one was ever paid.

SJR: Omega scammer's cars on the block Thursday

EDIT: From the auction site, "NOTICE: PRE-BIDDING or ABSENTEE BIDDING ENDS AT 10 AM (Central)A BUSINESS DAY BEFORE AN AUCTION!!!" Apparently, pre-bidding ended Wednesday morning.

Posted by Marie at May 7, 2003 11:26 PM