Police Arrest Car Dealer In Fraudulent Sale Of '65 Cobra Mustang
The Tarpon Springs Police have charged the owner of Exotic Motorcars for fraudulently selling a 1965 Ford Cobra Mustang.
By D'Ann Lawrence White, Patch Staff | | Updated
TARPON SPRINGS, FL -- The Tarpon Springs Police have charged the owner of Exotic Motorcars at 41041 U.S.19 N. for fraud involving the sale of a 1965 Ford Cobra Mustang that was on consignment at the dealership.
According to police, the owner of the classic Mustang entered into a consignment agreement with the dealership on May 8 to have the dealership sell the car for $57,000.
On May 19, the dealership sold the Mustang to an overseas buyer for the agreed upon price. However, dealership owner Wassim Wassim Rouh "Peter" Nasr, 50, of 1011 Riverside Ridge Road, Tarpon Springs, and employees of the dealership reportedly concealed the sale of the Mustang from the owner and continued to actively
communicate with the owner throughout May and into June, implying that the Mustang hadn't yet been sold.
The car owner discovered his Ford Cobra Mustang was in the process of being sold when he arrived at the dealership at the end of June and discovered it was no longer on the property.
According to Tarpon Springs Police, Wassim convinced the car owner that he needed to accept the prospective purchaser's offer of $52,000 because no higher offers had been received A check was issued on July 6 to the owner by Exotic Motorcars for $52,000 and bounced due to insufficient funds. The dealership then gave the owner with another check, which subsequently cleared.
The Tarpon Springs Police Department was notified of the bounced check by the owner and began actively investigating the case with the help of the Bureau of Dealer Services. During the investigation, police discovered the dealership had deceived the owner into believing his car had only sold for $52,000.
In addition to uncovering of the deception, the investigation revealed a Power of Attorney and Certificate of Title had been forged by the dealership in the owner's name to perpetuate the fraudulent sale of the car.
The crimes uncovered during this investigation don't appear to be isolated, according to police. They are currently investigating four other complaints from victims who were issued bounced checks by Exotic Motorcars. The bounced checks total more than $185,000.
Wassim was arrested Friday, Aug. 10 for fraud involving a security interest.
Anyone who believes he or she has been the victim of a similar crime should contact Tarpon Springs Police at 727-938-2849.
Image via Google Earth
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