Albany, OR – 16 May 2017 – Used Car Dealer, Shannon Jones, will spend two and a half years in federal prison for defrauding customers and business associates of his Corvallis used car dealership out of more than $1.3 million.
Borrower fraud in U.S. auto loans is surging, and may approach levels seen in mortgages during last decade’s housing bubble, according to a startup firm that helps lenders sniff out bogus borrowers. As many as 1 percent of U.S. car loan applications include some type of material misrepresentation, executives at data analytics firm Point Predictive estimated based on reports from banks, finance companies and others. Lenders’ losses from deception may double this year to $6 billion from 2015, the firm forecast.
“Honestly, I think it’s kind of creepy. I would use the word ‘stalking’ almost,” said Assemblyman Jeffrey Dinowitz, D-Bronx, who has introduced a bill to limit the way police may use plate readers and make New York one of the few states prohibiting their use by private companies.
LaSalle County, IL – January 20, 2016 – With the finding of the presence of some kind of foreign material on the undercarriage, Investigators have impounded the car believed to have struck and killed a Mendota woman and it not only shows damage consistent with an accident but other evidence that could implicate suspected driver Jose Torres.
Salem, OR – August 20, 2015 – The State of Oregon has joined Pennsylvania in suing an unlicensed title loan company going by the names Auto Loans LCC, Liquidation LLC, Loan Solutions LLC, Management Solutions LLC or Car Loan LLC and is also connected to a host of other individual names including William McKibbin III, Kevin Cronin, Mark Edward Wiener, and Kelly S. Bonner.
This company is allegedly a “Global Client” in the RDN network. Claims of bounced checks coming from Nevada mail box drops as well as earlier warnings from RSIG predate this suit.
A Glendale, California-based debt collector will pay $1 million dollars to settle Federal Trade Commission charges that the defendants violated federal law. This is the first FTC action against a debt collector who used text messaging to attempt to collect debts in an unlawful manner.
Ocala, FL – April 17, 2013 – When a Florida Buy Here Pay Here dealer hired 42 year old Christian “Nick” Inzillo to repossess several cars for them, they were a little dismayed in his results. After he only recovered one, a tip led them to the truth of why.
No matter their line of work, the most common question I am asked is: “When should we start working a skip?” How far past-due should someone be before we start skipping them?
The answer may surprise you: