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Resource ID: #18382
Subject: Automobiles
Source: Indianapolis Monthly
Affiliation: 
Date: March

Description

Indianapolis Monthly investigates a flawed auto-mall scheme, which lured some 60 prominent investors, and then went bankrupt. The story exposes the questionable business practices of the person behind the scheme - Jimmy O'Neal, former Hamilton County newspaper publisher and former friend of the golf great Arnold Palmer. "Without Arnold Palmer's friendship, O'Neal might never have gotten his auto-mall scheme out of first gear," the magazine reports. A major finding is that the O'Neils have taken cash out of the auto-mall corporation, and have been spending investors' funds on luxury vacations and parties for several years.

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