The Federal Bureau of Investigation has arrested six fraudsters for falsely obtaining millions of dollars in auto loans. The scammers operated three fake dealerships — called Premier Luxury Motors, Platinum Motors Auto Sales, and 5-Star Motorsports — which had no employees, inventory, or licenses.
The perpetrators secured 80 fraudulent auto loans worth $1.7 million, though they attempted to secure $2.7 million in loans, according to the Northern District of Georgia Attorney‘s office. The conspirators applied for auto loans with banks and credit unions, supplementing their applications with fake vehicle purchase orders. Lender-issued loan checks would be deposited into financial accounts opened by the conspirators and held in the names of the fake dealerships. The conspirators would split the money rather than repay the lenders. The scheme spanned about four years, the investigation discovered.
The FBI stressed its vigilance in catching financial fraud. “Bank fraud is not a victimless crime, and these defendants will now have time to reflect on their choice to obtain these fraudulent auto loans,” Special Agent in Charge of FBI Atlanta Chris Hacker said in the Department of Justice‘s press release.
The fraudsters received the following sentences:
- Giovanni Cartier: four years and nine months in prison followed by three years of supervised release, and ordered to pay $1.7 million in restitution;
- Melvin Goode: two years and ten months in prison followed by five years of supervised release, and ordered to pay $765,603 in restitution;
- Michael Miller: two years in prison followed by five years of supervised release, and ordered to pay $316,826 in restitution;
- Marchelle Mathis: one year and a day in prison followed by three years of supervised release, and ordered to pay $164,995 in restitution;
- Vladimir Marcellus: three years probation with 240 days of home detention, and ordered to pay $164,995 in restitution;
- Kirk Evans: three years probation with six months of home detention, and ordered to pay $47,799 in restitution.
