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A former auto dealer who used the same vehicles to obtain financing from two different lenders has pled guilty to wire fraud.
David Hoffman, 40, briefly ran a local auto dealership in 2008. Over the dealership’s three-month span, he used the same 13 vehicles to obtain financing from two lenders, Dealer Services Corp. and Auto Finance Corp., obtaining $166,000 in duplicate financing.
Hoffman pled guilty Wednesday to wire fraud charges. The conviction caps an FBI investigation, federal officials said.
Slated to appear before U.S. District Judge Charles Siragusa July 30 for sentencing, Hoffman faces a possible 20-year prison term and could be fined as much as $250,000.
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