The Industry's Leading Source For F&I, Sales And Technology


Modesto Dealers Sentenced to Prison for Bank Fraud

October 01, 2013

MODESTO, Calif. — Two brothers who owned and operated various used-vehicle dealerships in Stanislaus and Merced Counties — including Own-A-Car, The Auto Store, and Auction 2 U — were sentenced to prison and ordered to pay approximately $601,000 in restitution for conspiring to commit bank fraud, ABC 23 reports.

Abdel Baset Jawad was sentenced to four years and nine months in prison, while his brother Abdul Muniem Mohamad Jawad was sentenced to four years and three months. The Jawads prepared misleading and false financial information about credit challenged customers, and then submitting that information to financial institutions in order to obtain financing.

To read the full story, click here.


  1. 1. Bubba B [ October 01, 2013 @ 01:45PM ]

    Have fun in your cage fellas! Hope you enjoy baloney sandwiches. Wow - they really threw the book at these guys. I wonder if the lenders required POI... or were they somehow falsifying paystubs too?

  2. 2. Wb [ October 19, 2013 @ 10:59AM ] gotta a big mouth

  3. 3. Andrew Jackson [ November 16, 2013 @ 08:44AM ]

    A criminal is a criminal I do not feel sorry for these guys , my only question is how about the wall st bankers who stole billions how come not one of them has gone to jail , How about Mr Jon Corzine
    "Reuters) - A federal judge on Tuesday rejected a bid by former MF Global Holdings Ltd chief executive Jon Corzine to dismiss investor litigation seeking to hold him, other executives and many banks responsible for the futures brokerage's rapid collapse."


Your Comment

Please note that comments may be moderated. 
Leave this field empty:
Your Name:  
Your Email:  



NY Attorney General Cracks Down on Fake Reviews

Attorney General Eric T. Schneiderman announced an agreement with 19 companies to stop writing fake online reviews and to pay more than $350,000 in fines.