On October 19, 1982, the automaker John Z. DeLorean is arrested and charged with conspiracy to obtain and distribute 55 pounds of cocaine. DeLorean was acquitted of the drug charges in August 1984, but his legal woes were only beginning. He soon went on trial for fraud and over the next two decades was forced to pay millions of dollars to creditors and lawyers. Nevertheless, DeLorean occupies an important place in automotive history: Thanks to its starring role in the 1985 film “Back to the Future,” his gull-wing sports car is one of the most famous cars in the world.
DeLorean grew up in Detroit and began to work for Chrysler while he was still in college. His career was a promising one: He worked his way up the corporate ladder at General Motors, where he is credited with designing the GTO and the Firebird, and became a vice-president in 1972, but he left the company just a year later to pursue his own business interests. In 1978, he started the DeLorean Motor Company in Northern Ireland—the British government, along with investors like Johnny Carson and Sammy Davis, Jr., paid the bulk of his start-up costs—to build his dream car: the DMC-12, a sports car that was like nothing anyone had ever seen before. Its stainless-steel body was unpainted; its doors opened up, not out; it had a 130-hp Renault engine and could go from zero to 60 mph in eight seconds.
But not many people actually bought a DeLorean car. They were much too expensive: Each one cost $25,000, compared with $10,000 for the average car and $18,000 for a souped-up Corvette. The company’s financial trouble, DeLorean’s attorneys argued, was the reason the FBI had been able to entrap him in the $24 million drug deal–the authorities knew he would do anything to save his business.