TRENTON, N.J. (Legal Newsline) – D.I.B. Leasing has been charged in an alleged bank financing scam, New Jersey Acting Attorney General John J. Hoffman and the Office of the Insurance Fraud Prosecutor announced.
D.I.B.’s owner, along with three employees and the dealership’s bookkeeper were charged with conspiracy, trafficking in personal identifying information pertaining to another person and financial facilitation of a criminal activity. Allegations state the defendants created fake information to dupe banks into approving auto financing for consumers without the necessary income.
“Consumer confidentiality and trust in the system is crucial to anyone buying a car,” Hoffman said. “These defendants are accused of shamelessly exploiting that trust for their own selfish gains. My office will aggressively investigate and prosecute corrupt retailers use customers as unwitting pawns in their unlawful schemes."
In at least one case, a victim had allegedly never gone to D.I.B. Leasing, nor applied for a loan through the company.
“None of the victims had any idea car loans were taken out in their name until they began receiving bank notices that they were behind on payment for vehicles they didn’t own,” Acting Insurance Fraud Prosecutor Christopher Iu said. “This was a brazen scheme that defrauded consumers and banks alike.”