Former South Jersey Auto Dealer GM Sentenced for Fraud Scheme - NBC 10 Philadelphia

Former South Jersey Auto Dealer GM Sentenced for Fraud Scheme

    processing...

    NEWSLETTERS

    Former South Jersey Auto Dealer GM Sentenced for Fraud Scheme
    Google Street View
    Chevrolet of Route 73 in New Jersey

    The former general manager of a South Jersey auto dealership was sentenced Thursday to five years in prison for his role in an almost $3 million scheme to defraud a bank and for filing a fraudulent tax return.

    Richard T. Pepe, 70, pleaded guilty last summer before U.S. District Judge Jerome B. Simandle in Camden to a superseding criminal information charging him with one count of conspiracy to commit bank fraud and one count of fraud and false statements on his 2008 U.S. Individual Income Tax Return.

    The former general manager of the South Jersey auto dealership was sentenced Thursday to five years in prison for his role in an almost $3 million scheme to defraud a bank and for filing a fraudulent tax return.

    According to documents filed in this case and statements made in court:

    From 2004 through October 2008, Pepe was the general manager of Chevrolet 73 in Berlin, N.J. Federal prosecutors in New Jersey said Pepe and others acting on his behalf fraudulently obtained money from M&T Bank, intended as floor plan financing for Chevrolet 73, by providing phony information to the bank, including false liabilities and profits on the dealership’s monthly financial statements. Pepe then used that money — over $2.95 million — for personal expenses.

    To read the full story, click here.


    For more business news, visit Philadelphia Business Journal