According to a press release issued yesterday by the Chicago office of the FBI, they have indicted ten defendants in a "Financing Fraud Scheme Resulting in $56 Million in Losses". A former racer and a former AMA race team owner are among those indicted.
From the press release: A former area motorcycle and recreational vehicle dealer and his accountant, together with eight other defendants who allegedly acted as straw buyers in sham vehicle sales, were indicted on federal charges alleging a nearly $74 million fraudulent financing scheme that resulted in approximately 20 lenders losing more than $56 million. All 10 defendants were charged with at least one count of bank fraud, and eight of them were also charged with federal tax offenses in a 36-count indictment that was returned by a federal grand jury yesterday, federal law enforcement officials announced today.
Among those charged are former AMA race team Safety First team owner Kevin D. Hanson, 43, of Louisville, Kentucky and also former racer Owen A. Weichel, 48, of Huntington Beach, California.
Read the entire document here.
The final paragraph of the document states The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and are entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt against each defendant.