Brothers accused in alleged car dealership scam

[speedog]

Hey beyonders

http://www.calgarysun.com/news/alberta/2011/01/18/16939966.html

speedog

[speedog]

Interesting scam - wonder how many innocent people got hooked by this as an 'unsuspecting buyer?' See below for the meat of the story (from the Calgary Sun)...


Two siblings are accused in an alleged fraud scheme involving falsified bank loans for high-end vehicles, tallying to more than a million-dollar loss for financial institutions.

The alleged scams are said by police to have happened between August 2007 and August 2009 at two city new and used car dealerships — both since out of operation.

Calgary Police economic Crimes Const. Kathy Graham said she learned of the alleged scam by accident while investigating another file.

It led to a 15-month investigation that saw Giovanni (John) Bartolotti and Rocky (Rocco) Bartolotti charged on Dec. 21, 2010.

The pair face a total of 41 charges.

Graham said the brothers are accused of scams similar to mortgage fraud — but instead allegedly involved hefty loans obtained for luxury vehicles from Porsches, Land Rovers, BMWs and Ferraris.

Police said some vehicles were double-financed and many didn’t even exist in Canada, but belonged to other people in the U.S.

Typically, the accused would claim to have a buyer for a vehicles, submit information to get a loan or lease in an unsuspecting buyer’s name.

“They were submitting false documents to obtain financing on vehicles ... basically pretending they finalized the sale of high-end vehicles and obtaining financing from banks when the vehicles belonged to other people, mostly in the States,” Graham said.

“At a certain point, the loan goes in to default.”

One brother owned Bartolotti Motors at the time while the other owned Platinum Motors.

A dealership at the Manhattan Rd. location of the former Bartolotti Motors is now said to be under new ownership.

Graham said because “vehicles are not fixed and can be easily hidden,” and people are not required to show a vehicle when applying for a loan, it makes doing a ruse such as this easier.

The scam involved several banking institutions who did not notice the pattern until police uncovered it.

The accused make their next court appearance on Feb. 24. All above quoted materials are from content as written by Nadia Moharib of the Calgary Sun.

[freshprince1]

Interesting. I did a quick search on the stealerships mentioned. Turns out some guy came at Platinum Motors with a gun a few years back...

"Being in the car industry -- sometimes it's tough," he said. "It's stressful, and unfortunately, you can't please everyone." -Rocky Bartolotti.

...especially when you're too busy ripping off the local banks.

http://www.canada.com/calgaryherald/news/story.html?id=803d4d44-15a8-4669-aeae-c6c1c182c090&k=97695

[M.alex]

I remember when Beyonders were recommending buying from Rocky :rofl:

[ddduke]

Originally posted by M.alex
I remember when Beyonders were recommending buying from Rocky :rofl:

I remember this too. I actually bought an infiniti from him a while ago after I was told how great they were.

Atleast I paid cash and didn't get scammed in any way by them.

[bastardchild]

Platinum motors guy. I bought off him along time ago. Over paid but I was a stupid kid @ the time so whatever.

[chkolny541]

i was expecting something about SDS, o well

[ekguy]

Doesn't someone on here work at platinum?

[Masked Bandit]

Originally posted by ekguy
Doesn't someone on here work at platinum?

I think there's someone from Platinum Mitsubishi which if I'm not mistaken is different than Platinum Motors.

I could be wrong though.

[Jlude]

Originally posted by chkolny541
i was expecting something about SDS, o well

me too :rofl: :rofl: :rofl:

[HOTRODHATER]

The two brothers named in the fraud article above make most stealerships look like angels. These guys did anything to make a buck and then when things got tough they turned to fraud deals to pay the bills. Many innocent customers were victimized in the process, just another reason to stick to honest private sales if you do your homework or the larger big name dealerships that are not fly-by-night operations.

I did some research online and it looks like this investigation is far from over and more charges and victims are coming forward now.

Great Forum.

Safe shopping everybody.

[dirtsniffer]

lol, who are you?

[Guillermo]

lol, kinda reminds me of BeenRobbedBy :rofl:

[AE92_TreunoSC]

Rocco is still selling cars from what I hear haha

[TomcoPDR]

Originally posted by dirtsniffer
lol, who are you?

who?

[CMW403]

Originally posted by TomcoPDR


Based on email, CPS sergeant Tony Braile... Google is such a dangerous resource tho. :(



Mr. Braile has been charged with dangerous driving causing bodily harm...

http://www.calgarysun.com/news/alberta/2010/10/27/15853351.html

[bastardchild]

So much new information :rofl:

[Abeo]

Originally posted by TomcoPDR


Based on email, CPS sergeant Tony Braile... Google is such a dangerous resource tho. :(



This Tony Braile?? http://www.cbc.ca/news/canada/calgary/story/2010/10/27/calgary-police-asirt-officer-charged.html

edit: beat

[Abeo]

Originally posted by Abeo


This Tony Braile?? http://www.cbc.ca/news/canada/calgary/story/2010/10/27/calgary-police-asirt-officer-charged.html

edit: beat

edit2: looks like his twitter: http://twitter.com/#!/tbraile

[HOTRODHATER]

lol..... scum will be scum.
the internet is a beautiful thing.

[FraserB]

.