How about a horror story ...
The damage to the gear box had not been properly repaired. The cracks had simply been stop-drilled. Tom called the previous owner and was told "tough noogies, you bought it, its yours". Tom's next call was to the FAA.
An FAA inspector showed up to take a look.
The FAA promised dire consequences to all of the people involved, including the previous owner who was a commercial pilot. Great news, but not much help to Tom.
Your friend was lucky - I've heard stories (some from an FAA employee) in which the FAA goes after the
current owner/pilot for flying an unairworthy airplane. Yes, the previous owner and mechanics are at fault, but ultimately it's the pilot who's responsible for the airworthiness of the aircraft.
I think the unscrupulous sellers know this and realize that, most of the time, the new owner will be just as on-the-hook from the FAA and therefore won't pursue prosecution.
