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Convinced he was framed for financial crimes in Japan, former Nissan chief Carlos Ghosn somehow slipped past surveillance and fled to his home in Lebanon.
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Amir Bakhtiari will spend 54 months in federal prison and faces deportation to Iran after pleading guilty to embezzling $6 million by paying phony advertising invoices and unearned bonuses.
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A former dealership employee was accused of systematically scrapping nearly $250,000 worth of catalytic converters and selling them to a recycling center for pennies on the dollar.
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Janet Christine Stair is charged with concocting a service-ticket scheme that defrauded a Hot Springs Chrysler dealership of more than $17,000 and charged its factory nearly $12,000 for phantom warranty work.
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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.
Read More →Police believe the dealership lost between $13,000 and $25,000 when a service appointment coordinator began reversing charges for auto repairs and adding them to her personal credit card.
Read More →Enforcing accountability is the only sure way to prevent the embezzlement of dealership funds.
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Embezzlement leaves a black mark on the industry and can be devastating to the affected dealership. But there are only so many staffers with access to accounting records, and most embezzlers fit a known profile. So why does each case seem to take dealers by surprise?
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When a sudden financial loss strikes an otherwise profitable dealership, filing for bankruptcy may be the best way to save the store.
Read More →Frank Fletcher Ford in Joplin, Mo., is the latest victim of an embezzling controller who admits to stealing about $88K from the dealer, according to court documents filed in the U.S. District Court for the Western District of Missouri Southwestern Division.
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