Mopar scammer indicted!

[Alaskan_TA]

Stories at http://www.startribune.com/business/70585387.html?elr=KArks:DCiU1OiP:DiiUiacyKUUr

&   http://www.twincities.com/ci_13819638

I hope all the victims get their cars / money back.

Edit;

Yet another story;

http://www.postbulletin.com/newsmanager/templates/localnews_story.asp?z=28&a=425943

[rt green]

man, what a dick

[TeeWJay426]

I figured he was already locked up.... he got exposed a couple years ago as a fraud. Took this long for it to finally catch up to him?

[Cooter]

A person can start out with the best of intentions, then comes the money, then comes the ugly little word with a huge meaning.....


GREED....Gets 'em every time..

[Go Hogs Go]

Note to self Never pay 650,000 large for a car to a dude with no title!   I hope the victims get their money back, or cars.

[Aero426]

Note to self Never pay 650,000 large for a car to a dude with no title!   I hope the victims get their money back, or cars.

The world of high end cars is a very small one.  All the players pretty much know each other.  Many have done business with each other before and have some trust in each other.   The car is paid for, the car is shipped on a truck to the new owner and the title is with it or arrives shortly by Fedex.     Although I am not entirely comfortable with it, transactions like this happen frequently with no problem.

[Old Moparz]

Note to self Never pay 650,000 large for a car to a dude with no title!   I hope the victims get their money back, or cars.

I was thinking the same thing, but I suppose when you have money like that for a "toy" you don't sweat the small details like who owns it. 

[FlatbackFanatic]

I hope the victims get their money back too. But I really doubt that they will. I did go the his last car show in 2006, it was a great show. Never seen so many Hemi cars at one place.

[200MPH]

he is Lucky to be alive people have been killed over a lot less...

[maxwellwedge]

What was not mentioned was the multi-million plus deal between a certain Arizona/N. Dakota fellow and a gentleman from Vegas.

Being busted prevented him from being scorpion food in the Nevada desert.

[Ghoste]

I figured he was already locked up.... he got exposed a couple years ago as a fraud. Took this long for it to finally catch up to him?

That's what I thought too.  At the very least I thought he had kind of disappeared after the first time.

[RD]

what a douche.. he deserves a swift 

[68charger383]

We need to make a few examples out of people so people will think twice before pulling stuff like this or trying to pass a new Challenger SE as an SRT 8.   

[Todd Wilson]

I could have 300mil in the bank and I would still go pick up the car and title myself with the money in hand.


Todd

[bull]

Note to self Never pay 650,000 large for a car to a dude with no title!   I hope the victims get their money back, or cars.

The world of high end cars is a very small one.  All the players pretty much know each other.  Many have done business with each other before and have some trust in each other.   The car is paid for, the car is shipped on a truck to the new owner and the title is with it or arrives shortly by Fedex.     Although I am not entirely comfortable with it, transactions like this happen frequently with no problem.

Just beause many people have done it doesn't make it smart. Many buyers and banks were getting involved in 100%+ loan-to-value home loans too a while back and look where they are now. Back when the economy was strong it wasn't an issue but now it is. I have the feeling this guy's demise finally came due to a poor economy too.

[Ghoste]

Fred was caught in some pretty shady deals when the economy was still pumping along.

[bull]

Fred was caught in some pretty shady deals when the economy was still pumping along.

Oh, I'm sure he always has been dealing off the bottom of the deck but what I'm saying is now that the money isn't flowing in for some of his customers they're looking for what's owed them. They probably were a little more tolerant of his BS back when they were rolling in cash.

[Mike DC]

   
If he had a known corrupt past then people shoulda seen this coming.

A career crook is gonna stay that way.  If his business takes off and he suddenly makes an honest $1 million, that won't mean he stops being a crook.  It just means he'll start trying to dishonestly make it $2 mil. 

[TK73]

hmmmm one of these does not fit:

"He faces seven charges, including wire fraud, money laundering, false statements to a financial institution, bank fraud and possession of a short-barreled shotgun."

[greenpigs]

Being busted prevented him from being scorpion food in the Nevada desert.

I think it just will delay it.

[Mike DC]

   
Quite possibly true. 

   

[chargergirl]

SCUM...JUST SCUM!