With his sentencing set in February, part of Theodore Nicholas Papouloglou’s plea agreement includes the forfeiture of more than $1 million in vehicles, court records show.
Papouloglou last week pleaded guilty to counts one of three of his federal indictment which charges him with evasion of income tax assessments in count one and conspiracy to transfer, receive, conceal and sell stolen goods in count three.
Based on the plea agreement between the Roanoke Rapids man and the government, District Judge David J. Novak ordered the following property be forfeited:
A 2021 Ford F250 Roush edition pickup
A 2021 Jeep Gladiator Sport Apocalypse edition
A 2017 Lamborghini Huracan convertible
A 2020 McLaren 720s convertible
A 2021 Mercedes-AMG G63
A 2019 Ferrari 488 Pista
A 2021 McLaren 765LT
A 2021 Ford F450 Super Duty pickup
Conservative value estimates of the vehicles are as follows:
The Mercedes SUV around $150,974
The Roush edition pickup around $96,000
The Jeep around $190,000
The Lambo between $219,000 to $223,000
The McLaren 720s around $219,000
The McLaren 765LT around $368,000
Court records showed a wire transfer for the Ferrari of $443,575
The F450 is anywhere from $58,000 to $93,000 depending on condition
The original four-count indictment says Papouloglou in November of 2020 incorporated DG Auto South LLC in Emporia as a scrap metal business which routinely purchased and sold automotive parts, including catalytic converters. It also operated as a money transmission business in connection with the purchase and sale of catalytic converters.
In November of 2019 Papouloglou incorporated Strategic Converter & Cores, a limited liability company registered to his mother's address in Gaston, a company the indictment refers to as an alter ego of the Virginia business.
Sentencing is scheduled in Richmond on February 20 at 1:30 p.m.