Fraud, Money Laundering and Tax Evasion…of Course a Garage Laden with Luxury Cars is Involved!

Chip Factory Best Buy Scam

Ouch…it seems that the garage door has come down on Russell Cole, former supplier of computer components to Best Buy.  Facing charges of fraud, money laundering and tax evasion, Cole’s collection of luxury cars is on the auction block today, April 19th, 2011.  Guess he should have just indulged in a luxury car rental once in a while to avoid detection, now it is just another luxury car auction for gearheads to read about! 

Cole’s collection of 11 exotic and rare cars is up for grabs, including the following:

•    A 2003 Ferrari Enzo with a minimum bid of $1 million
•    2006 Lamborghini Murcielago convertible
•    2008 Bentley Continental
•    2002 Aston Martin Vanquish

2003 Ferrari Enzo coupe
2003 Ferrari Enzo coupe

The fleet of high-quality and low-mileage luxury cars has drawn interest worldwide, with pro-athletes, sultans business titans possibly expanding their collections at the Milwaukee luxury car auction.  You see, it is normal for these types to own fleets of rare supercars…not so much for a computer parts salesman.  Derp.

2006 Lamborghini Murcielago
2006 Lamborghini Murcielago

The Best Buy scheme included Cole, his wife and a Best Buy insider, and ended with Cole receiving 15 years, his wife 3 years and the insider 7.5 years.  The scheme consisted of Cole overbilling the computer parts department at Best Buy, to the tune of around $32.8 million dollars that went undetected for four years.  It is being dubbed the Chip Factory Best Buy scam, because Cole’s pseudo business was named the Chip Factory.

2005 Ferrari F430 Modena
2005 Ferrari F430 Modena

Best Buy will have a chance to recover some lost revenue from the sale of the exotic cars and the sale of the $1.9 million dollar mansion that Cole referred to as “The house that Best Buy built”.  Hey Cole, if you are committing a crime, perhaps try to live low on the radar…idiot.

Don’t miss our fleet of exotic rental cars Miami and more on your way out!






Post by Imagine Lifestyles Luxury Rentals