DC Solar

I don’t know; I might just be ignorant to how big the solar business is getting but he just seemed to be spending a lot of money and not just in NASCAR.
 
I wonder.................................................... if the law suit has anything to do with the search warrant. Wouldn't surprise me if baseball isn't the culprit. :sarcasm:

Of course Nascar team owners have been known to break the law, just like CC's are expected to cross the line. It is the way competitive people get ahead. :D
 
I Believe Gene Haas's home, or maybe the business was raided in a similar fashion.
 
It wouldn't surprise me if the allegations go well beyond an old tax dispute. Hoping for the best in this situation, but fearful of charges for investor fraud or something similar. As posted above, a lot of money has been spent.
 
LewTheShoe said:
It wouldn't surprise me if the allegations go well beyond an old tax dispute. Hoping for the best in this situation, but fearful of charges for investor fraud or something similar. As posted above, a lot of money has been spent.
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I hope Chip got his check, but even if he did I think they can freeze CGR from spending it
 
Not shocking with the amount of money going towards CGR and all sorts of racing and baseball and whatever else. It has defo been suspect but who would we be to question it lol.
 
LewTheShoe said:
It wouldn't surprise me if the allegations go well beyond an old tax dispute. Hoping for the best in this situation, but fearful of charges for investor fraud or something similar. As posted above, a lot of money has been spent.
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FBI doesn't get a go ahead for a massive raid over a simple tax dispute. I'm with you
 
IanMcVittie said:
Hendrick paid bribes demanded by Honda officials for extra allocations of vehicles. This practice has been in effect for years and IDK why such a big deal was made of it.

On the other hand Haas was locked up for 2 years and was found guilty of felony conspiracy to commit tax evasion. He paid a 75 million dollar fine so he is no bueno in my book.
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I try to commit tax evasion everytime I pay my taxes.
 
This is not ideal. They've put a lot of money into NASCAR and the possibility of having the rug pulled out from beneath CGR this late...ouch.
 
My guess is there's a lot going on here. And, ain't none of it good. The IRS resorts to these tactics when all else fails. I'm thinking someone may have thumbed their nose at the feds. Basically took the approach of " I have money, and lawyers, so there." And I'm not certain the FIB raids property for tax disputes. Which leads me to believe this is more criminal in nature. Tax fraud is criminal in nature, but raiding private and business properties tends to make me think this is bad for those involved. And, I could be out in left field also. Time will tell.
 
I like to give a man the benefit of doubt when ever FBI and or tax people involved.
A lot of men have tried to make their career on the backs of some of these cases.
Enough have failed which makes me doubt their motives.
 
Team Penske said:
I like to give a man the benefit of doubt when ever FBI and or tax people involved.
A lot of men have tried to make their career on the backs of some of these cases.
Enough have failed which makes me doubt their motives.
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Exactly. Us commoners have no idea of what motives are at play, or who the players are. The appearances aren't good, but that's what they are, appearances. Time will tell.
 
IanMcVittie said:
As the saying goes “where there’s smoke, there’s fire.”
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I worked for an electrical company who got audited. A year later they found a receipt for a golf bag
marked gift. The book keeper was suppose to make an entree to shareholders account. marked it as advertising. $5000. dollar fine and they spent a million dollars on the audit.
yep, them peoples work for the tax payers.
 
Wind and Solar are boondoggles at this point in time. Any time the US Government gives incentives to go a certain direction it ends up costing us taxpayers big money over time. Heck, anytime the Government gets into anything it costs us taxpayers a fortune.
Follow the money folks.
 
Team Penske said:
I like to give a man the benefit of doubt when ever FBI and or tax people involved.
A lot of men have tried to make their career on the backs of some of these cases.
Enough have failed which makes me doubt their motives.
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I understand what you are saying. There are always bad apples in every bushel. Before retiring I worked closely with the IRS for many years. They have very limited resources when it comes to enforcement in comparison to the amount of tax fraud that occurs in this country. Generally, they will only focus on the most egregious cases. I am not saying the IRS is your best friend, but in cases like this, in my opinion, the taxpayer is more than likely at fault.
They might also be looking for money laundering.
 
sdj said:
Wind and Solar are boondoggles at this point in time. Any time the US Government gives incentives to go a certain direction it ends up costing us taxpayers big money over time. Heck, anytime the Government gets into anything it costs us taxpayers a fortune.
Follow the money folks.
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One, or even a few, bad apples does not mean the whole industry is no good. The early automobile industry was full of these characters too.
Agree about government incentives, but the government gives out a lot of incentives to a lot of companies - not just alternate energy companies. The oil industry has enjoyed government incentives for decades and in amounts much higher than alternate energy companies receive. Does that hurt taxpayers? Probably not since gasoline prices could be much higher without those subsidies.
 
gone said:
One, or even a few, bad apples does not mean the whole industry is no good. The early automobile industry was full of these characters too.
Agree about government incentives, but the government gives out a lot of incentives to a lot of companies - not just alternate energy companies. The oil industry has enjoyed government incentives for decades and in amounts much higher than alternate energy companies receive. Does that hurt taxpayers? Probably not since gasoline prices could be much higher without those subsidies.
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Since the government pays those subsidies to the oil industry with our tax dollars, the total price of gas remains the same either way. I'd prefer to pay it directly in the cost of the gas instead of having the decision made for me. I have some control over the amount of gas I buy; I have no control over the amount of subsidy I pay.
 
Hate it for Chastain. Maybe we'll finally see some of the Cup teams get out of the Xfinity series with 2 already gone.
 
MRM said:
Hate it for Chastain. Maybe we'll finally see some of the Cup teams get out of the Xfinity series with 2 already gone.
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I think JGR dropped a car and so did Penske. I would say they have enough drivers developed for the cup series and will be able to keep the salaries down. With the age of the drivers, we are looking at none needed for the next 10 years.
 
I haven't seen this posted. Sure looks like tax non payments

“More recently, on November 6, the IRS released a lien of $2,441,500 that it filed on August 3 against the Carpoffs,” the Phoenix New Times reported. “The state of California also filed a lien against the Carpoffs in August, for about $1 million. As of this writing, that lien had not been released.”
https://racer.com/2019/01/04/ganassi-team-cuts-xfinity-program-amid-sponsors-issues/
 
StandOnIt said:
I haven't seen this posted. Sure looks like tax non payments

“More recently, on November 6, the IRS released a lien of $2,441,500 that it filed on August 3 against the Carpoffs,” the Phoenix New Times reported. “The state of California also filed a lien against the Carpoffs in August, for about $1 million. As of this writing, that lien had not been released.”
https://racer.com/2019/01/04/ganassi-team-cuts-xfinity-program-amid-sponsors-issues/
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It's looking like CGR may not have done their due diligence on this one.
 
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