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:
“For the merchant, even honesty is a financial speculation.”
—Charles Baudelaire (18211867)
“The trouble with her was she had never been really born!”
—Samuel Beckett (19061989)