Word: loreans
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Dates: during 1980-1989
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...Lorean's Fall
Finally, just after 6 p.m. Friday, De Lorean walked out of Terminal Island Federal Correctional Institution in Los Angeles and into a perfectly sleek black Jaguar with his wife Cristina and his pal Roy Nesseth. And then, punctuation for one chapter in a tale that has seemed like implausible fiction from the start: their Jaguar, with Nesseth driving, was hit by a Cadillac, which was in turn struck by a CBS News crew's car. No one was hurt...
...Lorean's trial should begin by the end of the year. Guilty verdicts could mean a prison sentence of 15 years or longer. His alleged coconspirators, Aviation Businessman William Morgan Hetrick and Stephen Arrington, remain on Terminal Island, unable to raise bail of $20 million and $250,000 respectively...
When the three were arrested two weeks ago, federal officials said that the key to their case was an unnamed "cooperating individual" who introduced De Lorean to Hetrick. The C.I. was identified last week by an anonymous caller as James Timothy Hoffman, 41, who lived not far from De Lorean's 48-acre spread northeast of San Diego. Hoffman and several other men were arrested last year and charged with conspiring to import cocaine. A Government informant had been part of that group. Hoffman, married and a father, confessed and agreed to become an informant in return for probation...
...final fate of De Lorean Motor Co., which made its sports cars at a plant in Northern Ireland, remains in doubt. De Lorean allegedly engineered the cocaine deal to save the company from financial collapse. Last week DMC lawyers in Michigan filed for reorganization under Chapter 11 of the bankruptcy laws to protect the company's major U.S. assets-650 cars worth $ 13 million or so-from an onslaught of perhaps 700 creditors. At week's end an Ohio-based company, Consolidated International Inc., reached agreement with British officials to buy some 1,000 unsold cars in Ulster...