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SEARCHLOCK HAVEN, Pa. -- A local area auto dealer has been indicted on federal charges alleging involvement in more than $1.1 million in loan financing scams, reported the Williamsport Sun-Gazette.
LOCK HAVEN, Pa. -- A local area auto dealer has been indicted on federal charges alleging involvement in more than $1.1 million in loan financing scams, reported the Williamsport Sun-Gazette.
Thomas E. McMaster, owner of MET Auto Sales, MET Auto Leasing and MET Enterprices, is charged with conspiracy to commit bank fraud and 27 counts of bank fraud.
According to the Sun-Gazette, legal records say that McMaster and a former employee, Jeffery Edward Rich, conspired to defraud a financial institution by making false statements about properties used to secure loans, concealing the existence of multiple outstanding loans on the same vehicle, submitting loan requests on vehicles that already had outstanding loans and making false statements on loan documents and lease and sale contracts.
The investigation was prompted by complaints filed by individuals who purchased vehicles from MET and returned later when their temporary registrations expired and they still had not received the official titles to their vehicles.
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