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"Perpetual Motion DeLorean" Scammers Face $26M Judgment

Posted by Soulskill on from the tanstaafl-my-friend dept.

An anonymous reader writes "Back in 2002, we discussed a story about the so-called 'Perpetual Motion DeLorean,' which could 'supposedly go "hundreds of miles" at speeds over 100MPH without stopping to recharge.' More than seven years later, the final shoe has dropped on this saga, with a $26 million judgment against Carl Tilley and his wife, who propagated this scam that ran for several years. Probably the height of its audacity was when Tilley told his shareholders in May of 2002 that GE had offered $2 billion 'sight unseen' to buy out the technology."

2 of 243 comments (clear)

  1. Admirable traits for a respectable CEO by s-whs · · Score: 5, Interesting

    Without doubt that guy could be on the board or be CEO of a big company...

    (I'm being serious!)

    1. Re:Admirable traits for a respectable CEO by ScrewMaster · · Score: 5, Interesting

      Serious? Really? How are most technology CEO's scammers on a level that this guy is on? Can you name a legit technology CEO that you think is at that same 'scam level'?

      Well, "scammer" is a relative term. Certainly a number of U.S. CEO-types have scammed their employees out of their jobs, and have been scamming the government for years (H1B allocations, outsourcing, not enough capable American workers, TARP, etc. etc. etc.) so a comparison of the level of ethics involved is entirely reasonable.

      --
      The higher the technology, the sharper that two-edged sword.