Classic Car Auction Businessman Sentenced

Posted by Steve White on Sep 04, 2013

The AP has reported that Mr. Stanley Dean Torgerson of Gilbert Arizona, who was indicted 2011 for selling cars and keeping the money without delivering the product, has been sentenced to 3 years in prison. As part of a plea bargain he admitted to three counts of fraudulent schemes and one theft. The original indictment has 101 counts of criminal activities including fraud and theft. He ran the company International Classic Auctions and had been in business since 1989.

The accusations of skimming profits and selling cars and not delivering them cropped up starting in 2009. Torgerson, who is also facing civil lawsuits for his activities, has said employees were responsible due to embezzlement. He is also having legal problems in Iowa as his company Torgerson’s Motorsports, LLC has defaulted on payments for six vehicles.

This story shows that classic car enthusiasts must take precaution whenever dealing in selling of buying a car. Mr. Torgerson’s company had a Better Business Bureau rating of F so a little bit of research may have resulted in fewer people suffering losses in this sad story .

One way to protect yourself is to come by our website and look at our fraud protection page. While you’re here browse classic cars online here offered by reliable, honest sellers and maybe you’ll find a vehicle you can’t do without.

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