FI showroom red and grey logo
MenuMENU
SearchSEARCH

Former Car Dealer Gets 16 Months for Defrauding Credit Union

A former used-car dealer based in Oklahoma City will serve 16 months in prison and pay $276,000 in restitution. The man was charged with taking out duplicate loans on multiple vehicles.

by Staff
April 9, 2013
2 min to read


OKLAHOMA CITY — John B. Langley, 62, of Harrah, Okla., was sentenced to 16 months in prison for making a false statement to a federally insured credit union, announced Sanford C. Coats, United States attorney for the Western District of Oklahoma. In addition, Langley was ordered to pay $276,216.57 in restitution to his victims.

In 2008 and 2009, Langley owned and operated J&K Langley Corp., which sold used cars in Oklahoma City under the name Bargain Network Auto Sales. On June 5, 2012, Langley was indicted for fraudulently taking out duplicate loans on multiple vehicles. In particular, the indictment alleged that he borrowed money from the Municipal Employees Credit Union and pledged vehicles on his lot as collateral when he knew those vehicles were pledged to Floorplan Xpress, an inventory financing company.

Ad Loading...

The indictment also alleged that Langley defrauded the credit union by selling collateralized vehicles and failing to give the proceeds to the credit union to satisfy his loans.

On Nov. 7, 2012, Langley pled guilty to giving a fictitious lien release letter on Floorplan Xpress letterhead to the Municipal Employees Credit Union on March 23, 2009, in connection with a loan for a 2009 Nissan Maxima.

This week, U.S. District Judge Joe Heaton sentenced Langley to serve 16 months in federal prison, based in part on the importance of protecting the integrity of financial institutions. Based on his plea agreement, the court ordered Langley to pay $200,806.57 in restitution to the Municipal Employees Credit Union and $75,410 to Floorplan Xpress. Langley was also ordered to serve five years of supervised release after he is released from prison.

This case was the result of an investigation conducted by the Federal Bureau of Investigation. The case was prosecuted by Assistant U.S. Attorney Scott E. Williams.

 

More F&I

Photo of a three-seat vehicle back seat
F&Iby Hannah MitchellMay 22, 2026

F&I Reaches for the Sky

The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.

Read More →
Cover image for a BOK Financial report titled “Timing the market: How avoiding volatility entirely can hurt long-term reinsurance program performance.” The image shows several road construction barricades with flashing amber warning lights lined up in a nighttime work zone. Beneath the image, red text explains that avoiding volatility can mean falling behind inflation and missing market rebounds that drive long-term surplus growth. The BOK Financial logo appears at the bottom right.
SponsoredMay 8, 2026

Timing the Market Can Hurt Long-Term Program Performance

For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.

Read More →
Ryan Ruff, The 90/10 Rule, Automotive Training Academy, Sales Series
F&IMay 6, 2026

The 90/10 Rule

In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.

Read More →
Ad Loading...
Photo of essential oil diffuser on desk next to laptop
F&IMay 4, 2026

Your Office Is Talking

What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.

Read More →
"Effective training ensures the customer’s needs remain at the heart of everything we do. When that is the focus, both sales and profits naturally improve." by Rick McCormick with F&I and Showroom logo and picture of Rick McCormick
F&IMay 1, 2026

F&I Training Fundamentals

How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.

Read More →
Photo of car tire and the tread mark it left in snow
F&Iby Hannah MitchellApril 29, 2026

Not Just Any Tire Will Do

More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.

Read More →
Ad Loading...
Photo of robot holding a laptop
F&Iby Hannah MitchellApril 27, 2026

How AI Will Drive the Next Wave of Innovation in Finance & Insurance

It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.

Read More →
Photo of notepad and pen next to computer keyboard on desktop
F&IApril 13, 2026

Control in Sales Is an Illusion

Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.

Read More →
Photo of external keyboard on office deak next to window
F&IApril 7, 2026

The Limited Warranty Game

Bringing it in-house benefits the dealership and its customers.

Read More →
Ad Loading...
Woman in casual clothing sitting at a desk
F&Iby Rick McCormickMarch 31, 2026

Curb The Confusion

Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.

Read More →