Almost sounds like a page out of the 70s and 80s. The Associated Press is reporting the arrest of 9 individuals in several states in a fake coal mine investment scheme based out of Kingsport, Tennessee. And WSOC Television in Charlotte indicates that a defrauded investor in Charlotte blew the whistle on ringleader Brian C. Rose, aka John Hankins. Rose is listed as having made 41 NASCAR Camping World Truck Series starts and 3 ARCA starts between 2000 - 2014. Rose's father has previously served prison time for operating a similar Ponzi scheme. The FBI also indicates that Rose and his family are under investigation for a purported separate fraudulent energy investment scheme.
The FBI indicates that it seized both race horses and race cars from Rose, aka Hankins.
Remember Kenny Childers - "The Coal Miner" and Jim Stacy??
And from WSOC-TV in Charlotte:
Didn't that Gilder fellow used to sell pick axes and coal shovels around Kingsport?!
LD. Ottinger of Newport, Tennessee wheels a championship NASCAR LMS ride for "The Coal Miner" in the 70s as posted by Statsman at Randy Ayers Modeling site.
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"Any Day is Good for Stock Car Racing"
updated by @dave-fulton: 12/05/16 04:02:07PM