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Compliance

Sales Manger Accused of Falsifying Loan Documents

October 10, 2013

BIRMINGHAM, Ala. — A former sales manager at Serra Nissan, Abdul Islam Mughal, was indicted Oct. 4 by a federal grand jury for bank fraud. Mughal was accused of devising a scheme to defraud Capital One Auto Finance, reports MyFoxal.com.

Since April, the dealership has been under investigation for falsifying costumer loan documents and submitting the fraudulent information to various financial institutions to obtain auto financing. Mughal pleaded not guilty and was released on a $5,000 bond.

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Comments

  1. 1. Bubba B [ October 10, 2013 @ 12:38PM ]

    Fry 'em. Bummer for the dealership - assuming the owners are honest.

  2. 2. docweller [ October 19, 2013 @ 09:14AM ]

    Typical behavior for this auto group. Not really surprised.

  3. 3. Kevin Ellis [ December 14, 2013 @ 01:07PM ]

    Wow, I am hearing about these fraud cases more frequently... It's sounds like our legal system has really done their job bringing these savory car guys to justice when they try to defruad our big banks in this country and thats a good thing...Although after the 2008 finacial crash there has not been one banker or any executive on wall street that has even been indicted... I'm not complaining, I am just wondering why the big guys with the big money are always above the law on this country, these criminals just have to many contacts in Washington to pay for their crimes, funny how this legal sytems works....

 

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