A Buford, Ga., man has been sentenced to 18 months in federal prison and must pay $191,395 in restitution for rolling back odometers on used cars and trucks to make the vehicles more valuable.
Ronald Dale Cole, 55, pleaded guilty on May 30, in U.S. District Court in Atlanta, to two counts of odometer tampering.
Cole bought high-mileage cars, sport-utility vehicles and trucks, at wholesale auto auctions in Georgia and South Carolina, rolled back the odometers by an average of 97,742 miles and resold the vehicles at auto auctions. Cole sold 56 vehicles with altered odometers with an average loss per victim of $3,418. Most of the vehicles Cole sold were more than 10 years old.
The $191,395 in restitution is the amount the court found Cole had defrauded victims through his odometer fraud scheme.
Subscribe to:
Post Comments (Atom)
1 comment:
I always wondered why we haven't heard more about crimes like this. Seems like it wouldn't take a genius crook to pull it off. I'd sure hate to be a victim of something like this.
A Hope Bail Bonds Las Vegas | 113 Gass Ave. | Las Vegas, NV 89101 | (702) 208-9898
Post a Comment