NORTH SALT LAKE -- Chad Bangerter swooned over a reproduction Lamborghini he bought Thursday at a government auction of cars belonging to a Utah man accused of a multimillion-dollar Ponzi scheme.
"I think a mayor should be driving that," said Bangerter, the 45-year-old mayor of Sunset, who bought the orange replica for $17,000. "I can't spend $100,000 on a real one. "The next best thing is a clone."
An eager crowd of about 700 bidders showed up at a North Salt Lake warehouse for a most unusual auction. U.S. marshals were selling an oddball collection of classic and muscle cars and an assortment of trick motorcycles -- one tricycle powered by an airplane propeller -- to repay investors who claim they were defrauded by money manager Jeffrey Mowen.
Auctioneer Rob Olsen said nearly all of the 186 vehicles sold for more than their minimum, set at two-thirds of their appraised values. The government hoped to collect around $2 million.