Find-A-Car Owner Pleads Guilty to Fraud

Find-A-Car Auto Sales and Brokering Inc. has pleaded guilty on two separate counts of fraud committed between 12/1/01 and 5/31/07, specifically for defrauding the Bank of Montreal of more than $5,000 by permitting the falsification of information on loan applications that enabled their customers to borrow money they wouldn't otherwise have been advanced - and which subsequently they couldn't repay. The second count was for defrauding both the Royal Bank and the Bank of Montreal of more than $5,000 by using forged and doctored supporting documents to obtain some of those same loans.

> Click here to read the full article on TheWhig.com




Florida Auto Dealer Convicted In Car Loan Fraud Case

The former owner of a car dealership in Bartow, Florida has been found guilty on nearly two dozen fraud charges and could face 35 years in prison. A U.S. District Court jury found John C. Giovanetti guilty of 11 counts of wire fraud, 11 counts of bank fraud and one count of conspiracy to commit both.

According to prosecutors from the U.S. Attorney's office, Giovanetti was the owner of Big Oaks Buick Pontiac GMC in Bartow and would have his employees there fax falsified applications for financing to SunTrust Bank using vehicles no longer in the car dealership's possession. The applications resulted in $2.5 million.

> Click here to read the official letter from the Department of Justice

> Click here to read the full article on TampaBayBizJournal.com