Victims Of GeoStar Mare-Leasing Scheme Awarded $65M
In 2001, David and Spencer Plummer, the heads of GeoStar, launched the mare-leasing scheme as way to generate more cash and pump up the value of GeoStar's stock. ClassicStar LLC, a company owned by GeoStar, offered wealthy individuals tax shelters through the leasing of thoroughbred mares and sale of the foals.
“From the beginning, ClassicStar...
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