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Vehicle Acquisition Network Blog

Connecting Dealers with Private Party Sellers

Missing Diesels Turn Up, Dealer Operator Pleads Guilty

Ryan G
Posted by Ryan G on Sep 21, 2017 11:28:11 AM

Missing Diesel Cars Surface at Auction (WDRB)

A clutch of Volkswagon diesel buybacks, which had gone missing from the parking lot of a derelict football stadium in Detroit, surfaced at an auction in southern Indiana.  Reports have detailed the story of 60 cars that went missing back in August and which were flagged through the National Auto Auction Association.

[Read the full story here]


A Trio of Dealership Owners Plead Guilty in Money Laundering Sting (Used Car News)

Three owners of a Buy-Here Pay-Here auto dealership have recently pled guilty to laundering money for drug dealers.  The trio also admitted to conspiracy, tax evasion, wire fraud and failure to comply with federal banking regulations.  The charges involved incidents stretching back to the mid-90s and involved the sale and financing of cars for a number of people who claimed to get income through the sale of drugs.  Other charges involved crimes having to do with skimming money from down payments and falsifying records.

[Read the Full Story Here]

Topics: auto news, buy here pay here, auction, used car news, Industry News, Used Car Business

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