A Sheridan auto auction house that was shuttered amid accusations it shorted charities of donated car sale proceeds was back in business Friday afternoon when a state regulatory board decided it was not a danger to the public.

Despite an ongoing grand jury investigation into the allegations, Public Auto Auction was allowed to reopen following a marathon 13-hour hearing that determined the charges weren’t enough to keep the padlocks on.

But the Colorado Motor Vehicle Dealer Board, the state panel that regulates the car industry here, also fined auction owner John Sharp an undisclosed amount for administrative charges of theft, fraud and negligence. One person with knowledge of the decision said the fine was $70,000 - but half was set aside, a common board practice. Sharp was also placed on a year’s probation.

Sharp, whose license to reopen Family Trucks & Vans in Denver was also reinstated, was elated by the news.

“I’m doing absolutely marvelously,” he said an hour after learning of his victory Friday. “For being in business 28 years, I think

they made a good call. I still can’t believe how anyone can railroad you like that.”

The board dismissed a variety of other charges against FTV, Sharp said.

Posted: 10|15|05 at 9:34 am. Filed under: US News.