THIS DAY IN HISTORY – John Z. DeLorean is arrested in $24 million cocaine deal – 1982

Via History.com

On October 19, 1982, the automaker John Z. DeLorean is arrested and charged with conspiracy to obtain and distribute 55 pounds of cocaine. DeLorean was acquitted of the drug charges in August 1984, but his legal woes were only beginning. He soon went on trial for fraud and over the next two decades was forced to pay millions of dollars to creditors and lawyers. Nevertheless, DeLorean occupies an important place in automotive history: Thanks to its starring role in the 1985 film “Back to the Future,” his gull-wing sports car is one of the most famous cars in the world.

-----------------------------------------------------
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal

-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)

DeLorean grew up in Detroit and began to work for Chrysler while he was still in college. His career was a promising one: He worked his way up the corporate ladder at General Motors, where he is credited with designing the GTO and the Firebird, and became a vice-president in 1972, but he left the company just a year later to pursue his own business interests. In 1978, he started the DeLorean Motor Company in Northern Ireland—the British government, along with investors like Johnny Carson and Sammy Davis, Jr., paid the bulk of his start-up costs—to build his dream car: the DMC-12, a sports car that was like nothing anyone had ever seen before. Its stainless-steel body was unpainted; its doors opened up, not out; it had a 130-hp Renault engine and could go from zero to 60 mph in eight seconds.

But not many people actually bought a DeLorean car. They were much too expensive: Each one cost $25,000, compared with $10,000 for the average car and $18,000 for a souped-up Corvette. The company’s financial trouble, DeLorean’s attorneys argued, was the reason the FBI had been able to entrap him in the $24 million drug deal–the authorities knew he would do anything to save his business.

DeLorean was already mired in legal problems by the time director Steven Spielberg chose a DMC–12 to serve as Marty McFly’s time machine in “Back to the Future.” Spielberg had originally planned to use an old refrigerator instead of a car, but had changed his mind at the last minute. (The director liked the DeLorean’s futuristic look, but more than that he was worried that young fans of the movie might accidentally get stuck in refrigerators and freezers while playing make-believe.) While the DeLorean’s instant celebrity did not do much to revive its creator’s fortunes, it granted him a permanent footnote in pop-culture history.

Subscribe
Notify of
guest
5 Comments
CCRider
CCRider
October 19, 2017 6:47 am

I was a road salesman in New Jersey at the time. Around the intersection of Rtes 287 and 78 was a field of stainless steel-DeLorean cars, probably 50 of them. I drove past it one morning. Later that day-after the DeLorean bust was in the news-I drove past it again. The field was brown. Not a car remained.

I remember that from those days and the game I played seeing how fast I could drive thru the many toll booths on the Garden State Pkwy and tossing a quarter in the basket to see if I could beat the green light. The bogey was 22 mph. I guess I was testosterone addled.

Iska Waran
Iska Waran
October 19, 2017 10:04 am

Unlike Musk, at least DeLorean was an honest crook.

Zarathustra
Zarathustra
October 19, 2017 10:20 am

” it had a 130-hp Renault engine and could go from zero to 60 mph in eight seconds.”

This is a bug and not a feature. 13o hp in a premium sports car???? Fuckin’ ridiculous! It should have had 3oo hp minimum.

MrLiberty
MrLiberty
October 19, 2017 12:34 pm

But truckloads of cocaine continued to pour through paid-off Custom’s checkpoints via the CIA’s Iran-Contra project (all coordinated by then vice president and future president George H.W. Bush). Yeah, justice is blind. LOL.

MrLiberty
MrLiberty
  MrLiberty
October 19, 2017 1:50 pm

And please don’t take my comments as supportive of the immoral war on drugs, the prohibition of drugs, or the general belief among some that one’s body is NOT one’s own, but should be controlled by the government.