Wednesday, December 18, 2002

Old Fiorini truck draws bids


Forget the Rolls-Royces - '56 Ford could go for $10K-plus

By James McNair
The Cincinnati Enquirer

Former investment promoter George Fiorini had some fine Rolls-Royces and Mercedeses, but it's his old Ford pickup truck that's drawing the most attention in a U.S. Marshal's Service auction. As of Tuesday afternoon, one full day after bidding opened at $3,150, the 1956 Ford F10 pickup seized from Mr. Fiorini had drawn 32 bids and was up to $10,200. The black truck has cloth upholstery, automatic transmission, 97,000 miles and an electronics package that includes an AM/FM/cassette, cell phone and CB radio. Bidding ends at 3 p.m. today.

Bids are also in for two of the other four Fiorini vehicles being auctioned by www.bid4assets.com. His 1960 Rolls-Royce Silver Cloud II is at $15,700 after three bids, although the undisclosed reserve price has not been met.

A federal grand jury is investigating Mr. Fiorini for fraud in connection with his former 10 Percent Income Plus plan, which consisted mainly of unregistered promissory notes issued by questionable companies. Federal asset forfeiture statutes allow the government to seize and sell items thought to have been bought with proceeds of crimes.

E-mail jmcnair@enquirer.com