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According to a report by the New Haven Register, Gregory Loles - the team principal behind the Farnbacher-Loles race team and its associated performance shop - has been fingered in an embezzlement scandal involving the St. Barbara Greek Orthodox Church of Orange, Connecticut.

The church's followers raised $6.3 million to fund a new building of which Loles was in charge of managing, and the Porsche dealer and racing magnate was also reportedly administering several member's college and retirement funds, with one person claiming to have lost as much as $4 million.

The federal authorities are involved, but haven't released a statement yet. Expect all the sordid details to be revealed in the coming days, so consider this developing...

[Source: New Haven Register via Axis of Oversteer via 0-60 | Image: Chris Graythen/Getty]BREAKING: Farnbacher Loles principal reportedly embezzled church funds, investigation underway originally appeared on Autoblog on Tue, 08 Dec 2009 16:43:00 EST. Please see our terms for use of feeds.



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The real sad story is that all the employees including Spencer Cox whom we all know to be great guy have lost their jobs just before Xmas. I know that one of the guys has just had twins.

The good news is that Spencer & Crew have setup shop 10mins away and open for business and willing to help everyone, please lend your support to a great bunch of people who have misfortune to be part of this.

Spencer can be reached at 203 733 1454.
 

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The real sad story is that all the employees including Spencer Cox whom we all know to be great guy have lost their jobs just before Xmas. I know that one of the guys has just had twins.

The good news is that Spencer & Crew have setup shop 10mins away and open for business and willing to help everyone, please lend your support to a great bunch of people who have misfortune to be part of this.

Spencer can be reached at 203 733 1454.
That does suck. There are some good people there, more victims of these misdeeds.
 
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