htc***
04-22-2010, 10:35 AM
Apr 22, 2010
By far most sales people are honest. They work long hours and for the most part do their best to earn your business. But as they say, a few rotten apples can spoil the bunch.
Shahid Sheikh, a former sales person at Airport Nissan in Brampton, Ontario, Lynn Fuller, the dealership's former Business Manager, and Ranjit Bisram, a customer, have each been charged with fraud to the tune of $1.71 million.
So what scam did they pull?
The trio concocted a plan to sell dozens of cars to imaginary customers using fake documents, such as T4s, bogus customer employment letters and fake insurance information needed to obtain financing.
Some vehicles were sold to people with terrible credit by falsifying their credit information to close the sale. In many cases Sheikh over-priced any accessories added to each sale, allowing him to "earn" a much higher commission.
In all of the cases the deals were put together with 100% financing.
From October 2004 to August 2006 41 vehicles were sold through the scam. Of those vehicles, only 11 of them have been recovered. The scam was brought to light by Wells Fargo, one of the many organizations used to obtain financing.
The trial continues.
[Source: The Toronto Star]
http://www.autonorth.ca/home/2010/4/22/nissan-sales-person-and-business-manager-on-trial-for-fraud.html
By far most sales people are honest. They work long hours and for the most part do their best to earn your business. But as they say, a few rotten apples can spoil the bunch.
Shahid Sheikh, a former sales person at Airport Nissan in Brampton, Ontario, Lynn Fuller, the dealership's former Business Manager, and Ranjit Bisram, a customer, have each been charged with fraud to the tune of $1.71 million.
So what scam did they pull?
The trio concocted a plan to sell dozens of cars to imaginary customers using fake documents, such as T4s, bogus customer employment letters and fake insurance information needed to obtain financing.
Some vehicles were sold to people with terrible credit by falsifying their credit information to close the sale. In many cases Sheikh over-priced any accessories added to each sale, allowing him to "earn" a much higher commission.
In all of the cases the deals were put together with 100% financing.
From October 2004 to August 2006 41 vehicles were sold through the scam. Of those vehicles, only 11 of them have been recovered. The scam was brought to light by Wells Fargo, one of the many organizations used to obtain financing.
The trial continues.
[Source: The Toronto Star]
http://www.autonorth.ca/home/2010/4/22/nissan-sales-person-and-business-manager-on-trial-for-fraud.html