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September 19, 2018 - Industry News

FTC Shuts Down Websites Offering Fake Pay Stubs for Sale

The operators of websites that sold fake pay stubs and other financial documents have agreed to permanently shut down their business as part of separate settlements with the Federal Trade Commission, the regulator announced this week.

Tags: compliance, F&I office, Federal Trade Commission, fraud, pay stubs

July 9, 2018 - Industry News

NY AG: Brooklyn Dealership Targeted Non-English Speakers

Bay Ridge Honda has agreed to pay $423,000 in restitution and penalties to settle charges of deceptive acts and practices that followed dozens of complaints from aggrieved customers, many of whom are non-English speakers.

Tags: compliance, Deceptive Practices, fraud, payment packing, UDAP, Unfair Practices

March 23, 2017 - Industry News

N.Y.’s Major World Charged with Predatory Sales and Finance Practices

The Department of Consumer Affairs (DCA) has filed charges against Queens-based Major World and its three used-vehicle dealerships for allegedly employing deceptive financing and sales practices that targeted low-income and immigrant consumers.

Tags: Deceptive Advertising, Department of Consumer Affairs, fraud, Major World, powerbooking

June 21, 2016 - Industry News

Former Credit Union CEO Charged With Fraud

The former CEO of Valor Federal Credit Union was charged with executing a scheme to defraud the credit union of approximately $718,000 to pay for his personal credit card, college tuition, his wife's birthday party, and a golf tournament sponsorship.

Tags: Attempted Fraud, FBI, fraud, Investigation, U.S. Attorney's Office, Valor Federal Credit Union

July 28, 2015 - Industry News

N.J. Consumer Affairs Division Reaches $25K Settlement with Dealer

The New Jersey Division of Consumer Affairs and AutoSource Group, a used-car dealership, have settled a lawsuit filed by the regulator earlier this year. The dealership was accused of failing to disclose the condition of its cars, among other things.

Tags: consumer complaints, fraud, Lawsuit, lemon law, New Jersey, Settlement, used vehicles

June 30, 2015 - Industry News

Calif. Dealer Sentenced to 13 Years for Embezzlement

The former owner and operator of Costa Mesa Bellagio Motors, a car dealership that specialized in buying and selling high-end luxury vehicles, was sentenced this week after pleading guilty to embezzling more than $2 million from unsuspecting customers.

Tags: compliance, embezzlement, fraud, Luxury Vehicles, prison

June 10, 2015 - Industry News

Serra Nissan Manager Charged With Defrauding Manufacturer

Federal prosecutors have accused the general manager of Serra Nissan of directing dealership employees to falsify sales reports to receive incentive payments from the manufacturer. Earlier in the week, the dealership’s controller was arrested for fraud.

Tags: fraud, Nissan, U.S. Attorney

June 3, 2015 - Industry News

Michigan Suspends Licenses of Five Dealers

Michigan Secretary of State Ruth Johnson has suspended the licenses of five Detroit used-vehicle dealers after an investigation uncovered multiple fraudulent acts, including the sale of cars containing stolen parts and record-keeping violations.

Tags: compliance, fraud, Michigan, vehicle title

March 19, 2015 - Industry News

FBI Offers Reward for Fugitive Dealer

The FBI is offering $20,000 for the arrest of a New Jersey dealer who has reportedly fled the country after more than 75 people filed complaints against him.

Tags: compliance, consumer complaints, FBI, fraud

March 12, 2015 - Industry News

Former Dealership Office Manager Sentenced to Prison

The former office manager of a Pennsylvania dealership was sentenced to three and a half years in federal prison for stealing nearly $700,000 from the business.

Tags: embezzlement, employee theft, felony theft, fraud

March 3, 2015 - Industry News

Mass. Dealer Sued for Selling Defective Cars

Massachusetts Attorney General Maura Healey has filed a complaint against a used-car dealer who allegedly had customers fill out blank contracts and then charged them at least twice the agreed-upon price for defective cars.

Tags: attorney general, defect, fraud, Lawsuit, Massachusetts

February 26, 2015 - Industry News

Ala. AG Shuts Down Dealer for Fraud

Alabama Attorney General Luther Strange was granted a temporary restraining order against the owners of a used-car dealership, as well as permission to seize the dealer’s property.

Tags: Alabama, attorney general, compliance, fraud, Lawsuit, sales tax evasion

February 19, 2015 - Industry News

Dealer Hit By International Smuggling Operation

U.S. Custom officials seized a vehicle from a freighter bound for Africa after a Louisiana dealership reported that the credit cards used to purchase the car online were declined.

Tags: fraud

February 4, 2015 - Industry News

Penn. Dealer Pocketed Customer Fees, Police Say

The owner and operator of a Pennsylvania dealership has been accused of taking money from at least 40 customers and not submitting title and registration paperwork and fees to the state’s Department of Transportation.

Tags: compliance, fraud, vehicle title

January 29, 2015 - Industry News

N.Y. Dealer Settles Insurance Fraud Suit for $1.6 Million

The lawsuit alleged that Fuccillo Hyundai in Upstate New York illegally sold insurance without a license to customers under the guise of an anti-theft warranty.

Tags: car insurance, fraud, lawsuits, Vehicle Theft, vehicle warranties

January 29, 2015 - Industry News

Dealer Closes Without Handing Over Titles to Car Buyers

A Missouri used-car dealer closed his operation abruptly after failing to pay the dealerships that provided him with his stock, leaving customers he sold cars to without titles.

Tags: compliance, fraud, used vehicles, vehicle title

January 15, 2015 - Industry News

Arrested Pa. Dealer Faces Additional Fraud Charges

A dealer who was arrested in November for selling a woman’s car on consignment and pocketing the profit is now believed to have committed similar crimes involving six other vehicles.

Tags: compliance, fraud

December 18, 2014 - Industry News

Dealer Charged With 30 Felonies

A North Carolina dealer was charged with pocketing money he obtained from five finance sources and seven customers related to the sale of seven cars.

Tags: felony theft, fraud

December 18, 2014 - Industry News

FBI: N.J. Dealer Now a Fugitive

A luxury-car dealer who lost his dealership license in September has fled the country, thwarting efforts by his customers to recoup thousands of dollars.

Tags: FBI, fraud

October 28, 2014 - Industry News

Dealer Arrested For Forgery, Fraud

A Georgia dealer was charged with 18 felonies and 9 misdemeanors for allegedly committing fraud and forgery in association with the sale of vehicles.

Tags: forgery, fraud

October 21, 2014 - Industry News

Man Finds No Record of VSC Purchased at Mich. Dealership

A man who bought a car at Auto Exchange last year discovered that the VSC provider had no record of the $2,566 contract he purchased. The dealership was shut down in April.

Tags: fraud, vehicle service contracts

October 7, 2014 - Industry News

5 Serra Nissan Employees Arrested

The indictment of the five dealership employees follows federal charges levied against two other Serra Nissan sales managers earlier this year. They are facing federal charges related to a scheme to fraudulently boost loan approvals and car sales.

Tags: bank fraud, F&I manager, fraud, Nissan Motor Acceptance Corp., Santander Consumer USA

October 2, 2014 - Industry News

Former Dealership Employee to Serve 15 Months for Embezzlement

The former office manager of DeLaBruere's Auto Sales in Vermont will be serving 15 months in prison and paying more than $368,000 in restitution for stealing cash from the dealership and writing fake checks to cover it up.

Tags: embezzlement, fraud

September 30, 2014 - Industry News

Conn. Dealer Charged in Service Contract Scam

A used-car dealer is accused of pocketing more than $13,000 in vehicle service-contract sales, leaving customers without the protections they though they purchased.

Tags: DMV, fraud, Service Contracts, used vehicles

August 28, 2014 - Industry News

Va. Dealer Charged With Selling Illegal Tags

The owner of a Virginia dealership was arrested after authorities discovered that he was selling fake tags that would allow drivers to delay properly registering their vehicle.

Tags: compliance, DMV, fraud, Virginia

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