In an Orlando federal courtroom on Thursday, October 13th, a Florida man pleaded guilty to his involvement in an extensive car buying fraud business. According to the Orlando Sentinel, the operation was done with counterfeit or fake checks.
The wrongdoers solicited the fraudulent deals with numerous car dealerships in person, online and on the phone. The sellers were told payment would be sent via wire transfers and checks were sent from inoperative and fake accounts. Additionally, before the sellers could detect fraud, the defendant and his company attempted to shuffle cars to other dealers.
During the period of August 2010 to January 2011, forty illegal transactions were identified by government officials. Investigators calculate the losses caused by the defendant’s criminal activity to be between $2.5 million and $7 million.
Car fraud comes in many shapes and sizes, from online scams to misleading ads in the local classifieds. If you think you’ve been the victim of car fraud, contact California car fraud attorney Howard D. Silver for a free consultation. Call 1-(855) 341-2611 for a free case review.