https://outlook.live.comUS charges 25 people in $4.5 million classic car scam ring
The United States Attorney’s Office charged 25 people last week in connection with a classic car scam ring that allegedly swindled millions of dollars from victims.
“Trusting that they were conducting legitimate business with automotive dealers, these victims lost over $4 million as a result of this scheme,” FBI Assistant Director William F. Sweeney Jr. said in a news release.
The attorney’s office said the scammers allegedly posed as legitimate classic dealers or collectors between November 2016 and July 2018 and would list a fake car on well-known auction and trading websites.
Once a deal was made for the price of the car, the scammers would tell the victims to contact faux shipping companies who could accept payment for the vehicle and coordinate its delivery.
The companies were allegedly shell corporations created by the scammers.
The scammers would then withdraw the funds from the shell companies. The attorney’s office said the transactions were made in varying denominations from different accounts in an attempt to prevent financial institutions from detecting the fraud.
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