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.
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.
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.
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.
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.
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.
Enforcing accountability is the only sure way to prevent the embezzlement of dealership funds.
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?
When a sudden financial loss strikes an otherwise profitable dealership, filing for bankruptcy may be the best way to save the store.
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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