Convicted Businessman’s Luxury Vehicles Up For Bid

CHICAGO (CBS) — Ferrari, Bentley, Lamborghini, Aston-Martin.

Those are just some of the high-end luxury vehicles purchased by a disgraced north suburban businessman that will up available for auction on Tuesday.

The $3 million stable of cars includes: A 2003 Ferrari Enzo, a 2002 Aston Martin V-12 Vanquish, a 2005 Ferrari F430 Modena, along with a couple of Porsches and a Bentley. There’s a Mercedes and a Lexus to be had as well.

Here’s a look at some of the most-coveted cars in the lot:

The federal government seized the cars from Russell and Abby Cole of Deerfield. The Coles, who ran a company called Chip Factory Inc., were convicted of defrauding Best Buy of $41 million by overcharging for electronics and other equipment supplied to the retailer.

Now the vehicles will be auctioned off by the U.S. Treasury at an event at Manheim Milwaukee on April 19.

According to the U.S. Treasury Department, proceeds from auctions are deposited in the Treasury Forfeiture Fund. Revenues from the fund are used for law enforcement activities and for restitution to victims of fraud.


    these recovered funds should go towards decreasing the federal deficit we have.

  • Latest Luxury Cars: The Bugatti Veyron Auctions : Cars Blog | Everything You should Know about Cars

    […] Convicted Businessman's Luxury Vehicles Up For Bid « Convicted … […]

  • Chip

    Shouldn’t the money be given back to Best Buy since they stole it from them in the first place?

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