No one likes a dirty car salesman. Luckily, one from Virginia is experiencing justice by serving prison time. He victimized two dozen financial institutions, causing $2 million in fraud. He won’t be selling cars for quite some time. 

Virginia car salesman found guilty of $2 million in fraud 

Sorry, the owner of Ace Auto Sales, LLC in Chesapeake, Virginia, isn’t around to open the shop. The owner, identified as 41-year-old Adrian Knight, is facing six years in prison for alleged fraud. 

Reportedly, Knight scammed two dozen finance institutions for $2 million. According to Wavy, he worked with coconspirators from March 2019 to January 2024 to list Ace as the seller of automobiles in buyers’ agreements or orders. 

They were accompanied by fraudulent loan applications to financial institutions for cars that weren’t in Ace’s inventory. Next, the conspirators provided false information like altered vehicle identification numbers, false income, and employment data, to obtain losses. 

Once a loan was provided, Knight would keep most of the proceeds and share the rest with his partners in theft. Next, the conspirators or drivers default on the loan or claim the loan was filed via identity theft. The victims struggle against over $2 million in fraud loss. 

Lidnet Halligan, U.S. The attorney explains, “Adrian Knight conspired to profit from exploiting financial institutions that serve honest customers. Plus, the scheme undermines legitimate lending and increases costs for borrowers.” 

She also shares, “We will continue to ensure that markets remain fair, transparent, and trustworthy. Those who manipulate the system for personal gain will be brought to justice.