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FBI busts Porsche dealer in $3m fraud scheme

A former dealer for Pompano Beach, Fla.-based Champion Porsche has pled guilty to a fraud scheme racking up $3 million.  The fraudster, Shiraaz Sookralli, pled guilty to conspiracy to commit mail fraud and wire fraud. He is scheduled for sentencing on Nov. 14 and faces a maximum sentence of 20 years in prison, according to […]

Fraudsters plead guilty in $1m auto loan scheme

Fraudsters John O’Day and Denise White each face a maximum of 30 years in federal prison for a scheme that racked up more than $1 million in fake auto loan applications, the Department of Justice announced last week.  The scheme, which ran from April 2016 to January 2018, defrauded five auto lenders and 20 victims. […]

Alabama dealer defrauds credit union

A Huntsville, Ala., man has been sentenced to 30 months in prison for bank fraud and tampering with vehicle odometers, the Department of Justice announced last week. He has been ordered to pay $109,000 in restitution, $28,000 in fines, and will spend three years in supervised release after serving out the term of his sentence. […]

Canadian police bust fraud scheme 

A scheme racking up C$800,000 ($600,968) in fraudulent auto loans has been busted after a yearlong investigation. Canada’s Calgary Police Service discovered that two perpetrators had been using stolen identities to obtain financing for vehicles. The victims of identity theft were held responsible for the vehicle loans taken out in their names. After obtaining vehicles, the […]

FBI arrests fraudsters in $1.7M auto scam

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 […]

Pennsylvania dealers nailed in 4-year fraud scheme

The owner and finance manager of two Erie County, Pa.-based dealerships — Lakeside Auto and Lakeside Chevrolet — have been indicted on 17 counts of auto fraud, according to an announcement by the Department of Justice on Tuesday. According to the indictment, Owner and former President of the National Independent Automobile Dealers Association, Andrew Gabler, […]

NY dealership owners arrested for lender fraud

Two owners of a Central Valley, N.Y.-based used-car dealership have been arrested on charges of wire and bank fraud, according to a U.S. Attorney’s Office release. The father-and-son operators of Exclusive Motor Sports, Mehdi and Saaed Moslem, allegedly defrauded lenders by overstating their net worth in loan applications. The pair also understated income in their […]

DOJ busts $30M luxury vehicle fraud scheme

A Wisconsin man has been sentenced to 10 years in prison after orchestrating a Ponzi scheme that racked up $30 million to finance the purchase of luxury cars, the Department of Justice announced this week. The perpetrator, Alex Golant, obtained the money from at least 40 different victims, according to the Eastern District of Wisconsin […]
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