Feds Charge Dealer with Bank Fraud, ID Theft

By Staff Writer July 25, 2018

A former used-car dealer was arraigned on a nine-count indictment charging him with bank fraud and aggravated identity theft.

Scott Radtke owned California Motoring Company, a car dealership in Clovis, Calif. According to the U.S. Attorney’s office, beginning as early as January 1, 2016, and continuing through June 2017, Radtke executed a scheme to defraud banks. When customers wanted to buy vehicles that Radtke’s dealership did not have in its inventory, Radtke offered customers the opportunity to buy them from other dealerships.

Radtke received up-front payments from the customers or their banks, but did not give that money to the other dealerships. Instead, he spent it on business and personal expenses.
Radtke then signed the customers’ names on sale documents and loan applications, which led banks to issue loans without the customers’ knowledge or authorization. Radtke’s actions involved at least 48 vehicles and over $2 million in fraudulently obtained goods and funds.

If convicted, Radtke faces a maximum statutory penalty of 30 years in prison and a $1 million fine.

Last modified on Wednesday, 25 July 2018 12:54

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