Another Roadblock for a Dreamer

DeLorean is charged with cheating investors out of $8.9 million

"Praise the Lord," said John Z. DeLorean when he heard the not-guilty verdict at his cocaine-trafficking trial last year. But his legal troubles were far from over. A federal grand jury in Detroit last week indicted the once and possibly future automaker on new charges: mail and wire fraud, interstate transportation of stolen money, and income tax evasion. The accusations stem from his handling of the finances of DeLorean Motor Co., which went bankrupt in 1982. Investigators charge that DeLorean, 60, bilked his backers out of $8.9 million.

The case focuses on $12.5 million that investors put up for research and...

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