auto fraud | Auto Finance News | Auto Finance News

Active fraud ring targets California, Florida, Nevada

PointPredictive has uncovered an active fraud ring that has targeted at least six lenders, Chief Fraud Strategist Frank McKenna told Auto Finance News. Over the past few months, PointPredictive's anti-fraud consortium has discovered more than 75 fraudulent auto loans totaling $1.6 million. PointPredictive analysts notified the involved lenders, which are participants in the consortium, and […]

California AG sues dealer for deceptive practices

California Attorney General Xavier Becerra is suing a used-car dealer for allegedly defrauding auto lenders and low-income Californians, according to court documents filed with the County of Alameda Superior Court. Paul Blanco, owner and CEO of Paul Blanco’s Good Car Co., operates seven used-car dealerships in California and two in Nevada. The dealership chain, which […]

Auto fraud ring targets Mississippi credit union

Two women have been sentenced for their role in a $234,467 auto fraud ring involving Jackson, Miss.-based Magnolia Federal Credit Union, the Department of Justice announced. Both Shakedra Verleece Smith and Sheri Youse — who also goes by the name Sheri Johnson — were sentenced to five years’ probation with six months home confinement. They […]

California task force busts $5M auto fraud ring

A fraud scheme racking up more than $5 million from auto financiers has been busted after an 18-month investigation identified 21 perpetrators operating in an organized crime ring, according to the San Diego County District Attorney’s office. More than 100 vehicles — ranging from high-end luxury vehicles to RVs — were stolen in the scheme. […]