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SALT LAKE CITY (AP) --The auction of a Ponzi scheme suspect's car collection is back on.
Auctioneer Rob Olsen says he will hold the auction of nearly 200 muscle and classic cars and motorcycles in a North Salt Lake warehouse April 1.
U.S. marshals are holding the auction to repay investors allegedly defrauded by a man being held in Davis County jail.
The defendant, Jeffrey Mowen, objected, claiming the government was preparing to sell the cars at low-ball values, but U.S. Magistrate Paul Warner overruled Mowen on Tuesday, saying there was no merit to any of his claims.
Two auctions had been scheduled for January, but Mowen objected that the government had failed to share a set of appraisals.
Bidding will start at two-thirds of each car's appraised value. CLICK HERE to see pictures of the vehicles.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
