FACTS - UPDATE #4 - (1-16-15 @ 10:30 am CST) - Chris Luck was sentenced to more than 10 years in prison as a result of his guilty plea for several counts of fraud for running a ponzi scheme and defrading investors of about $60 million dollars. Luck was part of GLR Investments. Also, he was ordered to pay $33.2 million dollars in restitution. His lawyer asked for 6 month in prison and 6 months of probation but the judge thought differently. You can read the article that appeared in the Santa Cruz Sentinel by slicking HERE.
FACTS - UPDATE #3 - (7-24-14 @ 9:20 am CST) - Former Jason Meyers team owner, Chris Luck has plead guilty in federal court to three counts involving securities fraud, mail fraud, and conspiracy to commit mail and wire fraud. His sentencing is set for November 24th in San Jose. Luck faces up to 60 years in prison and a $5,5 million fine. You can read the article by clicking HERE.
FACTS - UPDATE #2 - (12-24-12 @ 9:00 am) - On December 21, 2012, the US Attorney's office released a statement that Chris Luck is one of three men that have been indicted for many felony charges, including mail fraud. Luck, as well as his two partners in GLR Investments, are accused of stealing $60 million in investors money. He is due in court on January 17, 2013. You can read all about it by clicking HERE.
FACTS - UPDATE #1 - (6-4-12 @ 9:30 am) - An official statement from the Black Bandit #19 racing team sent to me this morning..... "The #19 team will compete as scheduled and looks forward to competing for wins as it gears up for a run at the 2013 World of Outlaws Sprint Car Series championship."
STRONG RUMOR SOME FACTS - (6-1-12 @ 11:15 pm) - Earlier this week, it was announced that John Geringer (Manager of GLR Growth Fund) is under federal investigation by the SEC for running what appears to be a ponsie scheme. You can read about it HERE.
GLR Growth Fund is partially owned by sprint car team owner Chris Luck. Luck was part owner in CL Motorsports that Stevie Smith drives for. Now, to make it clear, Chris Luck was NOT named in the suit. BUT, if you go to The Black Bandi web site you will notice that Chris Luck is no longer listed as one of the team owners. The Clemens have taken over full ownership of the #19 team.
Now my RUMOR and SPECULATION on this deal. Is it a coincidence that Chris Luck leaves the CL Motorsports #19 on the same day that Sam Havertepe, Jr. was fired from the Zemco Racing #1 car? The car Stevie has driven for over the last several years. Could it be that Zemco has made room for Stevie Smith's return so the #19 team can be dissolved? This is a very interesting situation and we will have to see how it develops but if I were a betting man, I'd bet this will happen very soon.