State Convicts Used Car Managers for Finance Fraud Featured

State Convicts Used Car Managers for Finance Fraud Two used-car store managers were found guilty of a corrupt business organization plot
to deceive a myriad of financial institutions and insurance companies across the country, resulting in a loss upwards of $1.6 million. Mahdi Khelifi and Hamza Dridi were found guilty of conspiracy to commit racketeer influenced and corrupt organization (RICO) and interstate transportation of stolen property. 
Khelifi was also charged with conspiracy to commit mail fraud and two counts of conspiracy to commit wire fraud. Khelifi and Dridi managed Elite Imports LLC and Elite Car Imports, LLC, which were car dealerships operating in Indianapolis. Elite would work with customers to help them secure financing.  Khelifi, Dridi and other members of the Elite Enterprise organization deceived creditors by submitting fraudulent documents and information, such as proof of income (paystubs, driver’s licenses, social security numbers, and dates of birth) and proof of residency (utility bills), among other things. Enterprise members created or obtained these fraudulent documents so that they could deceive the finance sources.
Many of the fraudulent documents showed that Elite customers worked at shell companies. The goal of the Elite Enterprise was to make the prospective creditor believe that the customer was credit-worthy, with appropriate income levels, employment status and valid state drivers’ licenses to obtain loans.  
The second racketeering fraud scheme involved members of the conspiracy making false claims to insurance companies, reporting vehicles as stolen, when in fact they were not. The defendants and associates were then reimbursed by various insurance companies for the purported stolen vehicles. Eleven vehicles and vehicle parts previously reported stolen to insurance companies and the police were located in a chop shop behind the Keystone location when federal agents raided the business in September 2015. The third fraud scheme involved floor plan financing and money laundering. The case was investigated through a collaborative partnership between the Federal Bureau of Investigation, the U.S. Postal Inspection Service, the U.S. Social Security, OIG, the Lawrence Police Department and the Indianapolis Metropolitan Police Department, with assistance provided by the Indiana Secretary of State, Auto Division, and the Indiana Attorney General Consumer Fraud Division.
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Last modified on Sunday, 25 February 2018 18:33