There is some disagreement as to dates, but the scenario seems to go like this:
Frank Reisner, Henry's father, and Tony Baumgartner each own 50% of Intermeccanica in Southern California. They start making 356 replicas. Reisner sells his 50% to Baumgartner somewhere around 1978 or 79. Baumgartner then sells 100% to CMC, who proceeds to almost singlehandedly make everyone believe that the word "replica" is synonymous with a pyramid scheme. Florida AG finally pulls the plug on a mostly defunct company that was very efficient at taking deposits, but little else.
As regards, CMC, does anyone really doubt that history repeats itself?