THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Saturday, February 17, 1996 TAG: 9602170468
SECTION: SPORTS PAGE: C9 EDITION: FINAL
TYPE: NASCAR NOTES
SOURCE: BY BOB ZELLER, STAFF WRITER
LENGTH: Medium: 68 lines
Sam McMahon III, who owned the now-defunct Team III Winston Cup stock car team in 1991, was convicted Thursday of 25 counts of bankruptcy fraud in U.S. District Court in Charlotte. He faces up to 15 years in prison without parole.
McMahon siphoned some $9 million in 1990 and 1991 from two failed hotel partnerships owned by his family and spent it on his race team, a helicopter and a motor home.
Other purchases included a $312,000 condominium at Charlotte Motor Speedway, a $22,500 payment for a VIP suite at Atlanta Motor Speedway and $101,038 to redecorate the condo, prosecutors said.
Scheduled to be sentenced in 60 to 90 days, McMahon was ordered to jail immediately after the conviction.
``I'm relieved to have this part of my life behind me. I'm ready to move on to the next step,'' McMahon told the judge, according to the Charlotte Observer.
GOODY'S 300: A 46-car field, including six rookies, gets the green flag at 12:30 p.m. today in the 38th annual Goody's 300 with Jeff Purvis leading the pack at Daytona International Speedway.
Purvis won the pole for the race with a speed of 189.733 mph, which was actually faster than the lap Dale Earnhardt drove (189.510 mph) to win the Daytona 500 pole.
One of the rookies is United States Auto Club sprint and midget car veteran Tony Stewart, who is making his first Grand National start.
Stewart has help from veteran Winston Cup engine builder Waddell Wilson, who said, ``We've got rookie guys and a rookie driver, but we sent professionals home. There's no question in my mind that boy has talent and feel. When you've worked with as many drivers as I have, you just come to know them.''
AMICK WINS DASH: Lyndon Amick, 28, of Batesburg, S.C., won Friday's Daytona USA 200 for Dash cars by several car lengths over Will Hobgood. Mike Swaim Jr. of High Point, N.C., who won the pole, was third.
DNQ: Eight drivers who brought Winston Cup cars here for the Daytona 500 went home early after failing to qualify. The most notable was Bobby Hillin, driver of the No. 77 Jasper Engines Ford. The others were Jim Bown, Chuck Bown, Steve Seligman, Jim Sauter, Tracy Leslie, Joe Ruttman and Delma Cowart.
PRACTICE INCIDENT: Morgan Shepherd got clobbered by Rick Mast as Shepherd drove his car onto the race track at the beginning of Friday's practice, and Shepherd was none too happy about it.
``I'd just pulled onto the race track, getting up to speed on the back stretch and going into turn 3, he just drove into the side of me and knocked all the panels out of the car.
``Stupidest thing I've ever seen down here. We hadn't even got started yet.''
ROUSH'S P-51 MUSTANG: His teams are struggling a bit on the race track, but three-car owner Jack Roush has been having a blast away from the track flying his World War II vintage P-51 Mustang fighter plane.
In addition to flying with two friends who own P-51s, one of whom survived a crash on Monday, Roush has been taking people for aerobatic rides.
Passengers have included Len and Eddie Wood of the Wood Brothers team, IMSA president John Bishop and Ford motorsports official Lee Morse and spokesman Wayne Estes.
KEYWORDS: FRAUD CONVICTION by CNB