Tim Beverly
Encyclopedia
Tim Beverly is former NASCAR
team owner. He founded Tyler Jet, an airplane sales company that was based in Tyler, Texas
, in 1986. In 1998, he purchased DarWal Inc. and ISM Racing
and merged them together to form Tyler Jet Motorsports
. He fielded cars for Darrell Waltrip
, Rich Bickle
, David Green
, and Johnny Benson
. In 2000, he sold the team to MB2 Motorsports
.
In 2004, he and another Tyler Jet executive pleaded guilty to bank fraud
and money laundering
.
NASCAR
The National Association for Stock Car Auto Racing is a family-owned and -operated business venture that sanctions and governs multiple auto racing sports events. It was founded by Bill France Sr. in 1947–48. As of 2009, the CEO for the company is Brian France, grandson of the late Bill France Sr...
team owner. He founded Tyler Jet, an airplane sales company that was based in Tyler, Texas
Tyler, Texas
Tyler is a city in and the county seat of Smith County, Texas, in the United States. It takes its name from President John Tyler . The city had a population of 109,000 in 2010, according to the United States Census Bureau...
, in 1986. In 1998, he purchased DarWal Inc. and ISM Racing
ISM Racing
ISM Racing is a former autoracing team owned by Bob Hancher. The team fielded entries in the Indy Racing League and the NASCAR Winston Cup Series.-Indy Racing League:...
and merged them together to form Tyler Jet Motorsports
Tyler Jet Motorsports
Tyler Jet Motorsports was a NASCAR Winston Cup race team.Tyler Jet Motorsports was owned by Tim Beverly, owner of the airplane sales company that shared a name with the race team, and was formed in 1998 after Beverly purchased the assets of DarWal, Inc...
. He fielded cars for Darrell Waltrip
Darrell Waltrip
Darrell Lee Waltrip is a 3-time NASCAR Cup Series champion , 3-time runner-up , winner of the 1989 Daytona 500 and 5-time winner of the prestigeous Coca-Cola 600 ,...
, Rich Bickle
Rich Bickle
Richard "Rich" Bickle, Jr. is a journeyman NASCAR driver. Bickle, who has never completed a full season in the NASCAR Sprint Cup Series, has a long history in short track racing.-Early career:...
, David Green
David Green (NASCAR)
David A. Green is a NASCAR driver. He won the Nationwide Series championship in 1994. His two younger brothers, Jeff and Mark have also competed in the NASCAR circuit...
, and Johnny Benson
Johnny Benson
Jonathan Benson, Jr. is an American NASCAR driver and the son of former Michigan modified driver John Benson, Sr...
. In 2000, he sold the team to MB2 Motorsports
MB2 Motorsports
Ginn Racing was a NASCAR Nextel Cup Series team based in Mooresville, North Carolina, which is near Charlotte. Its principal owners in its final season, 2007, were 80% Bobby Ginn and 20% Jay Frye. The Valvoline corporation co-owned the #10 car with the principal owners from 2001 to 2005...
.
In 2004, he and another Tyler Jet executive pleaded guilty to bank fraud
Bank fraud
Bank fraud is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently representing to be a bank or financial institution. In many instances, bank fraud is a criminal offense...
and money laundering
Money laundering
Money laundering is the process of disguising illegal sources of money so that it looks like it came from legal sources. The methods by which money may be laundered are varied and can range in sophistication. Many regulatory and governmental authorities quote estimates each year for the amount...
.