9 Indicted in Title Fraud Scheme in Arizona

9 people were indicted by a grand jury in Arizona. According to AZcentral.com, ” An Arizona grand jury has indicted nine people accused of running an illegal operation that produced tens of thousands of titles for vehicles being sold in 42 states. 

State prosecutors say Scott Bandy, James Johnson, Mary Fialko, James Edward Fialko, Lon Chaneyfield, Ivan Valenzuela, Oscar Valenzuela, Tamela Bandy and Ashley Cwick have been charged with conspiracy, fraudulent schemes and artifices, money laundering, control of an illegal enterprise and fraudulent schemes and practices.”

They also said ”

Prosecutors say the nine people indicted are accused of conspiring since 2015 to fraudulently obtain Arizona car dealership licenses and of consigning those dealership licenses to paying subscribers via an online membership service.

Over 1,500 subscribers purchased thousands of vehicles in 42 states and the indicted defendants are accused of fraudulently titling more than 30,000 vehicles during the course of this scheme. 

Prosecutors say the amount of illegal proceeds associated with the scheme is alleged to be at least $6.8 million.”

Read the whole article here. AZcentral.com

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