of mail fraud and six counts of money laundering regarding his dealings with Epic and its customers. The case alleged that Schrameck deliberately defrauded customers of more than US$14 million. In April 2018, Schrameck pleaded "guilty" to one count of wire fraud. The Department of Justice, US Attorney's Office, District of Oregon stated, "Schrameck gave customers Airframe Purchase Agreements and Aircraft Completion Assistance Agreements that misrepresented how the customers’ funds were being used. Without his customers’ knowledge, Schrameck used the funds for other projects, to complete existing Epic LT aircraft, and to support his own lavish lifestyle." Epic LT owner Doug King filed a motion requesting that the bankruptcy proceedings be moved from Nevada to Bend. That filing included a sworn statement by Chief Financial Officer David Clark, saying that Epic owed its customer builders an estimated US$15 million for parts and that the company had no money to pay those debts. Reorganization and acquisition by Engineering LLC Following the bankruptcy filing, Epic went up for sale. In an auction on 26 March 2010, the state-owned China Aviation Industry General Aircraft was the highest bidder with a US$4.3 million offer, beating out a bid by the LT Builders Group, a group of seven aircraft owners with incomplete aircraft in the plant. The hearing judge admonished the LT Builders Group for their bid describing it as "pathetic, useless, incompetent, unacceptable, garbage and fiction" but gave the group another chance to improve their position and reserved his decision on the final winner of the auction until 2 April 2010. On 2 April 2010 the judge issued a judgement ordering China Aviation Industry General Aircraft Co. Ltd. to make an agreement with the LT Builders Group to acquire Epic's assets. The deal came about following public concern about why a state-owned Chinese aerospace company would take interest in Epic, although the primary theories were that the Chinese firm was interested in acquiring Epic's designs or the carbon-fiber composites used in Epic's aircraft. Due to potential concerns, the final deal excluded any defense-related material potentially subject to International Traffic in Arms Regulations from the purchase. The deal was completed by 11 April 2010, with the LT Builders Group taking control of the company and marketing the Epic LT to North America, while the Chinese company obtained rights to market the Epic LT to the rest of the world. The new company intended to reopen