Later Financial Trouble
In 1998, financial trouble due to a $465,000 loss from a bankrupt customer led Coddington to re-organize Boyd's Wheels and partner with his eldest son (Boyd Coddington Jr.).
His designs, with centrally featured, scratch-built components, appropriated the foundation of a vintage automobile. In his later days he began registering cars that were essentially completely custom fabrications as antique automobiles, avoiding major emissions restrictions and tax liabilities. California officials considered this a "Ship of Theseus" fraud, claiming that so many central elements were replaced the cars ceased to be the same entity. Coddington was charged with a misdemeanor and pleaded guilty on April 7, 2005.
Read more about this topic: Boyd Coddington
Famous quotes containing the words financial and/or trouble:
“Creditor. One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions.”
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“I thought a minute, and says to myself, hold on,—s’pose you’d a done right and give Jim up; would you felt better than what you do now? No, says I, I’d feel bad—I’d feel just the same way I do now. Well, then, says I, what’s the use you learning to do right, when it’s troublesome to do right and ain’t no trouble to do wrong, and the wages is just the same?”
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