Monday, March 17, 2008

Dealership employee pleads not guilty in unusual embezzlement scheme

GM dealer’s account used to buy snow removal equipment

Tim Donovan, a former employee of a General Motors dealership in Greenfield, Massachusetts, has plead not guilty to charges that he allegedly ordered a number of sand spreaders and snow plows through the dealerships parts account. Mr. Donovan is accused of selling the equipment to third parties and keeping the proceeds, according to a report in the Brattleboro Reformer.

The alleged embezzlements took place over roughly two months in 2006.



According to an affidavit from the Vermont State Police, Mr. Donovan admitted to ordering two Fisher sand spreaders and one Boss snow plow and selling them at greatly reduced prices, keeping the profit. After confessing to this aspect of the crime, he denied doing the same thing with two more snow plows

In total, all five items cost roughly $25,000. The police assert that he resold them for a total profit of roughly $12,400.

The dealership’s insurance premium was increased by $5,000 a year as a direct result of the theft.

According to the State Police affidavit, Mr. Donovan told his boss when confronted that he was selling the products "on the side for cash money to fuel his cocaine addiction."

Great, another fine example of people in the car business.

AFI

Link to original source

_______________________________________________

Get Pre-Approved before going into the dealership.

auto refinancing

_______________________________________________

Check out the most effective Credit Repair System in America at the Credit Restoration Factory
Listen to their pre-recorded message 24 hours-a-day
1-800-689-3194

or visit the website: http://www.CreditRestorationFactory.com

Credit Restoration Factory affiliates: earn a $50 referral fee.

No comments: