Longtime Pro Mod standout and NHRA national event winning Funny Car racer and Top Fuel Team Owner Mike Ashley is in some serious trouble with the federal government. Ashley worked as the “chief business strategist” at New York’s Lend America, a mortgage lender. The government is alleging all kinds of bad stuff with respect to the business practices of the company. Lend America was recently forced to close and let go all of its employees due to aourt ruling that basically ended their ability to do business.

According to a Reuters news story there are lots of Lend America customers who have been left in the cold because of the company’s sudden closure. The story does not paint a favorable picture of how customers were treated and how deals were done.

Ashley was the face of the company and appeared with regularity on television infomercials for the operation. It should be noted that, in 1993 Ashley plead guilty to conspiracy to commit wire fraud and in 1996 was sentenced to five years probation in conjunction with another mortgage related trial. This story, published in late October on Housingwire.com looks back over Ashley’s career in the banking/mortgage industry. It is a riveting piece.

During his driving career, Ashley was fearsome behind the wheel of a Pro Mod and was a capable shoe in a Fuel Funny Car as well. Among his racing accomplishments were a US Nationals win. Ashley quickly sold his ownership stake in Antron Brown’s Top Fuel team as soon as this situation developed.

We don’t expect to see Ashley back on the competition trail any time soon.