Judge OKs April 1 auction of 210 vehicles

SALT LAKE CITY — A federal magistrate has ruled that the auction of about 210 cars, motorcycles and boats, worth an estimated $6 million and seized as part of an alleged Ponzi scheme, can go forward.

The collection, which includes a 1925 Ford Model T Speedster, a 1956 Austin Healey convertible, a 1970 Pontiac GTO, a 1971 De Tomaso Pantera GTS coupe and many more, was seized in January by the FBI from Jeffrey Lane Mowen, who is accused of buying the machines with money gained from a bogus investment scheme. The collection will now be auctioned off April 1 at 10 a.m.

Mowen, 47, of Lindon, faces charges of wire fraud and other counts. Officials say he represented himself as a successful trader in foreign currency, swindled investors out of about $18 million and tried to persuade a prison inmate to kill his investors to prevent them from testifying against him.

Prosecutors say Mowen used the vehicles in question to perpetuate the fraud. The first auction was postponed after Mowen filed an objection.

Previews on the collection will be held March 29-31 from 10 a.m. to 4 p.m. at 160 N. 400 West in North Salt Lake. Admission to the previews is $5, with tickets to the auction available for $20. Children are not allowed at either event.

A trial in Mowen's case is set for August.

— Emiley Morgan