Million

Car Salesman Accused of Costing Fiat Chrysler $8.7 Million With Employee Discount Scam

By Betty C. Morrow 4 days ago

A car salesman in Michigan is being accused of costing Fiat Chrysler Automobiles (FCA) $8.7 million in a wire fraud scam.

The Department of Justice unsealed charges against 34-year-old Apollon Nimo on Friday, charging the Parkway Chrysler Dodge Jeep Ram salesman with wire fraud and conspiracy to commit wire fraud for allegedly orchestrating a seven-year-long scam that involved illegally selling employee discounts to non-qualified car buyers.

Nimo was arrested on Friday and appeared in court before being released on bond. If convicted, he could face up to 20 years in prison.

According to a release from the DOJ, Nimo “improperly trafficked in, used, and sold” the manufacturer’s employee purchase control numbers (EPCNs) through private Facebook groups from 2014 through the present. Nimo’s use of EPCNs not only provided discounts to non-qualified customers, but also aided him in becoming the top Fiat Chrysler seller in 2018 and 2019.

“The complaint further

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Why This Unrestored 1955 Ferrari Could Fetch a Bonkers $2.6 Million at Auction

By Betty C. Morrow 2 weeks ago

The allure of unrestored cars has grown over the past couple of decades, with “survivor” vehicles now featured in their own classes at the most prestigious concours events worldwide. The most coveted of these survivors are so-called barn finds—cars sequestered in a dusty garage, shuttered warehouse or even a chicken coup, only to be disinterred decades later. Visions of Howard Carter opening King Tut’s tomb come to mind, and these modern-day automotive discoveries reveal their own amazing secrets.

This 1955 Ferrari 250 Europa GT, offered by Gooding & Company, is an exciting example of a car likely to be worth as much or more in its original condition than if it were a pristine, restored example. That this Prancing Horse has been in a state of suspended animation for 55 years makes it a precious research tool for collectors, historians and restorers. Gooding & Company estimates it will bring

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Car Capital Closes $20 million Debt Deal With Medalist Partners | State

By Betty C. Morrow 4 weeks ago

GRAPEVINE, Texas, April 13, 2021 /PRNewswire/ — Car Capital, an automotive FinTech company, has closed a $20 million credit line with Medalist Partners. This transaction gives Car Capital access to capital to expand their business, fund deals, and ultimately get consumers into cars. Car Capital’s proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALSSM) allows franchise and independent dealers to make 24/7 immediate auto loan decisions for 100% of their customers.

We are thrilled to work with Medalist to grow our dealer network. —Brian Reed, Chairman at Car Capital.

“Car Capital is excited to be able to help our dealer partners offer financing to their customers through the debt we’ve secured with Medalist Partners. We are planning to significantly expand our dealer network and grow our revenue with this additional capital,” said Justin Tisler, Co-founder and CEO at Car Capital. “Medalist has been an invaluable

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Inside The Weeknd’s Gorgeous $25 Million LA Mansion and Its Neon-Lit Car Garage

By Jaime E. Love 11 months ago

Click here to read the full article.

You could call it the ultimate Weeknd getaway. Nestled in the celebrity enclave of Hidden Hills, north of the Los Angeles sprawl, this sleek, farmhouse-style mansion has been home to Canadian music sensation Abel Tesfaye, better known as The Weeknd, for the past three years.

Tesfaye, 30, who was featured on the cover of Forbes magazine for his estimated 2017 earnings of a staggering $92 million, reportedly paid $18.2 million for the then-new 13,500-square-foot home.

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Set on three lush acres off an ultra-private road, the home is easy to spot on Google Earth for its eye-popping, bright-orange basketball court.

And at night, you might just spy the bright neon flooding out of the home’s jaw-dropping garage.

Built to accommodate Tesfaye’s rotating car collection—he’s currently said to own a 618 hp McLaren P1 hypercar, a Lamborghini Aventador SV roadster,

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