ALLMENDINGER NOT BURNED BY PONZI SCHEME

Authorities say that Grand-Am Rolex Series driver Henri Zogaib and his associate Paul Bellanca are behind the $5.5 million Ponzi scheme that ensnared a handful of NASCAR officials and drivers. Among those who invested with Zogaib, according to Auto Week, were Grand-Am driver Ryan Dalziel and Sprint Cup driver A.J. Allmendinger. Unlike Dalziel, Allmendinger said he got his money back, but believes he was the only investor to do so. Allmendinger called Zogaib "a smooth guy." Other people ...

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NASCAR DRIVERS, OFFICIALS IN PONZI SCHEME

WESH in Orlando reports that unnamed NASCAR drivers and officials are among the victims of a $5.5 million Ponzi scheme. Officials said the roots of the crime were uncovered in Volusia County, which is where Daytona Beach and NASCAR headquarters are located. In Ponzi or pyramid schemes, money from new investors is used to pay old investors until the scheme collapses on itself. Authorities said Henri Zogaib, a Grand Am driver, and Paul Bellanca, who operates diversified equity investments, are beh ...

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