Top Fuel Bracket Car

Couldn't lift on him!!!

Posts: 664 | Location: UTD | Registered: September 25, 2019

Ignored post by Holytown posted

DRR Elite

posted

Being that he’s in the family business, Whats the over/under on him being convicted. Like his father and grandfather?

Asking for a friend.

Posts: 13522 | Location: NJ | Registered: August 20, 2000

Ignored post by 1320racer posted

M120

DRR Sportsman

posted

I don't know details but agree with 1320. There's a history there. It's hard to erase. I hope all is legit but you never know.

Posts: 622 | Location: Atco, NJ | Registered: March 14, 2002

Ignored post by M120 posted

DRR Elite

posted

"In 1996, Michael Ashley, Lend America's Executive Vice President and Chief Business Strategist, pleaded guilty to two counts of wire fraud in connection with his work at "Liberty Mortgage", a company that was run by his family. His father, Kenneth Ashley, was sentenced to nearly four years in prison. Recalling the ordeal, Ashley stated: "I was just a pawn in a chess game between my father and the government...It doesn't affect my ability to do lending.

Pursuant to an October 20, 2009 Attorney General Civil Complaint, Ashley worked for numerous mortgage companies despite a State Banking Department ban. According to the complaint, Lend America listed Ashley as involved in "marketing," while his true function was to train the staff to originate FHA-backed mortgages and his pay was tied to the value of the loans the company made. Thus in the fiscal year that ended Sept. 30, 2008, when the company made $1.075 billion in loans, Ashley's compensation was $5.375 million.

Ashley frequently stars in Lend America's late night infomercials. In addition, Ashley, uses his car racing career to promote the company.

In July of 2019 Mike Ashley, was sentenced to three years in federal prison for his role in the 2009 collapse of the $1 billion-a-year mortgage lender. In addition to the three-year prison sentence, Ashley was ordered by Judge Joseph Bianco to pay $49 million in restitution and forfeit $800,000."

2nd one down...

https://www.justice.gov/file/1357111/download

Posts: 13522 | Location: NJ | Registered: August 20, 2000

Ignored post by 1320racer posted

CURTIS REED

DRR S/Pro

posted

Pretty stupid to hold the sins of the father against the son.

____________________________
2017 and 2018 Osage Casinos Tulsa Raceway Park No-Box Champion

2018 Div4 Goodguys Hammer award winner

Posts: 3143 | Location: KIEFER, OK. | Registered: August 17, 2007

Ignored post by CURTIS REED posted

Tim Mitchell

DRR Sportsman

posted

Consider the source....

Posts: 329 | Location: observing the mayhem | Registered: December 22, 2014

Ignored post by Tim Mitchell posted

DRR Elite

posted

Yes, consider the source, the US Government and consider the facts that he admitted guilt and ordered to pay $50m in restitution. Oh and grandfather too.

Just saying.

Posts: 13522 | Location: NJ | Registered: August 20, 2000

Ignored post by 1320racer posted

Big Steve

DRR S/Pro

posted

I wonder how much of the 49 million Mike Ashley has paid back if any? He is at the track with his son at every race.

Posts: 2543 | Location: Moving back to the door side | Registered: April 30, 2010

Ignored post by Big Steve posted

DRR Elite

posted

If you can pay back $49m

you stole a lot of money and proven white collar crime does pay.

Posts: 13522 | Location: NJ | Registered: August 20, 2000

Ignored post by 1320racer posted

Mike Stevens

DRR Trophy

posted

quote:
Originally posted by 1320racer:
"In 1996, Michael Ashley, Lend America's Executive Vice President and Chief Business Strategist, pleaded guilty to two counts of wire fraud in connection with his work at "Liberty Mortgage", a company that was run by his family. His father, Kenneth Ashley, was sentenced to nearly four years in prison. Recalling the ordeal, Ashley stated: "I was just a pawn in a chess game between my father and the government...It doesn't affect my ability to do lending.

Pursuant to an October 20, 2009 Attorney General Civil Complaint, Ashley worked for numerous mortgage companies despite a State Banking Department ban. According to the complaint, Lend America listed Ashley as involved in "marketing," while his true function was to train the staff to originate FHA-backed mortgages and his pay was tied to the value of the loans the company made. Thus in the fiscal year that ended Sept. 30, 2008, when the company made $1.075 billion in loans, Ashley's compensation was $5.375 million.

Ashley frequently stars in Lend America's late night infomercials. In addition, Ashley, uses his car racing career to promote the company.

In July of 2019 Mike Ashley, was sentenced to three years in federal prison for his role in the 2009 collapse of the $1 billion-a-year mortgage lender. In addition to the three-year prison sentence, Ashley was ordered by Judge Joseph Bianco to pay $49 million in restitution and forfeit $800,000."

2nd one down...

https://www.justice.gov/file/1357111/download

And this proves what ?? when it comes to Justin??

NHRA 203F

Posts: 26 | Location: Bloomingdale, Ga | Registered: January 03, 2002

Ignored post by Mike Stevens posted

imakehp

DRR Top Comp

posted

Nothing

.
Dave

F J B

Posts: 4555 | Location: Earth | Registered: February 08, 2006

Ignored post by imakehp posted

B KING

DRR Pro

posted

1980 Camaro
Taking the Best Working Small Tire Shyt Box & making it Greater Than Before!
3000 lbs.
Pump Gas 436

Posts: 2774 | Location: NV. | Registered: October 20, 2006

Ignored post by B KING posted

BP758

DRR S/Pro

posted

quote:
Originally posted by CURTIS REED:
Pretty stupid to hold the sins of the father against the son.

Yes I agree, apples can roll far from the tree!

California Screaming!
Raceless in California!

Posts: 4655 | Location: Vacaville | Registered: January 07, 2004

Ignored post by BP758 posted

wideopen231

DRR Top Comp

posted

Quote, this is bracket racing forum. Sounding more like drag inquire newsstand paper now.

Agree the kid has been convicted of nothing and to my knowledge, he has not been accused of anything.

If you think about all the parts involved, the power level and just the nature of the beast. 4 runs that close is amazing.

America home of free. Brought to you by 2nd amendment.

Posts: 4510 | Location: Greensboro NC | Registered: May 24, 2011

Ignored post by wideopen231 posted

Larry Scarth

DRR Sportsman

posted

What does Justin Ashley do for a living? Besides racing.

When everything is coming your way, your probably in the wrong lane.

Posts: 1047 | Location: Between a Rock and a Hard Spot, USA | Registered: December 06, 2001

Ignored post by Larry Scarth posted

SlyFox

DRR Pro

posted

Racing (of all forms) has always been a place to spend money acquired by questionable means, unfortunately.

Mike

Posts: 1594 | Location: Marietta, GA | Registered: December 09, 2005

Ignored post by SlyFox posted

savoyracer

DRR Trophy

posted

quote:
Originally posted by 1320racer:
Being that he’s in the family business, Whats the over/under on him being convicted. Like his father and grandfather?

Asking for a friend.

pot calling the kettle black!

not a friend

Posts: 79 | Location: myrtle point ore | Registered: April 07, 2009

Ignored post by savoyracer posted

BP758

DRR S/Pro

posted

quote:
Originally posted by wideopen231:
Quote, this is bracket racing forum. Sounding more like drag inquire newsstand paper now.

Agree the kid has been convicted of nothing and to my knowledge, he has not been accused of anything.

If you think about all the parts involved, the power level and just the nature of the beast. 4 runs that close is amazing.

Hell of a crew chief and engine team. Ya can’t convict the kid of anything! but one hell of a job behind the wheel. Who cares what his dad did? Doesn’t seem to bother the owners. It’s over and done move on.

California Screaming!
Raceless in California!

Posts: 4655 | Location: Vacaville | Registered: January 07, 2004

Ignored post by BP758 posted

jenavet

DRR Pro

posted

Id serve a 3 year prison sentence for 5 or 6 million...just sayin!!

Posts: 1433 | Location: united states | Registered: January 16, 2006

Ignored post by jenavet posted