VIRGINIA BEACH, Va.–A former car dealer here who moved to Iran in 2008 or 2009 while under police investigation has pleaded guilty to participating in a nearly $870,000 fraud that involved a credit union.
Andysheh “Andy” Ayatollahi – who returned to the U.S. in late 2015, after at least five years abroad – is to be sentenced July 13 in U.S. District Court.
The Virginia Pilot quoted court documents showing that Ayatollahi, 36, was a partial owner of the now-defunct Car Store, which routinely induced customers with bad credit to buy vehicles off their lot. The staff would then steer them to get loans from Navy Federal Credit Union.
The Virginia Pilot reported that court documents indicate the staff would coach buyers to lie about their income and employment in order to qualify for a loan. The staff also would create fake pay stubs and earning statements for buyers to help substantiate the lies, the Pilot reported.
According to authorities, staff facilitated 61 fraudulent car loans worth almost $1.2 million. Most of the loans went into default, costing the credit union more than $867,000.
Eleven Car Store employees pleaded guilty in 2008 and 2009 to various crimes related to the scheme. Sentences ranged from three years’ probation to five years in prison.