Prominent NASCAR industry sponsor DC Solar has filed for chapter 11 bankruptcy in the aftermath of a Dec. 18 raid of its California headquarters and the home of founders Jeff and Paulette Carpoff, Autoweek reported. In documents filed on Monday on behalf of DC Solar, the company's representative, Tracy M. O'Steen, has declared Seth Freeman as the debtors' chief restructuring officer. Freeman confirmed that the FBI and IRS raids seized “funds from all bank accounts associated with the DC Solar businesses” and “hundreds of items essential” for DC Solar to continue operating. Among the items seized included computer servers, computers, hard copy files of corporate records, investment agreements, lease agreements, vendor agreements and communications with investors, customers and insurance providers. The company was forced to lay off approximately 100 employees as a result.
