The DeLorean Drug-Trafficking Debacle
This ad, made prior to DeLorean's arrest, was widely publicized in several magazines. On this day in 1984, John DeLorean, founder of the DeLorean Motor Company, was found not guilty of trafficking cocaine after his lawyers successfully argued that he had been unfairly targeted and entrapped by the DEA and the FBI. He had been accused of entering into a drug smuggling scheme in order to raise money to save his failing company. John Zachary DeLorean was born on January 6, 1925, in Detroit, Michigan. As an engineer for General Motors, he became the youngest general manager of the Pontiac division and the youngest head of Chevrolet. He oversaw the development of several popular vehicles including the Pontiac GTO muscle car, the Pontiac Firebird, the Pontiac Grand Prix, and the Chevrolet Cosworth Vega. He earned a reputation as an innovative corporate maverick and when he left GM in 1973 to start his own company, enthusiasm for the new venture was high. He received investments fro...