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Article: OCCU Alleges 'Pattern of Racketeering' In Auto Scam.(Orange County's Credit Union)(Duty Free Auto Club)
- Article from:
- Credit Union Journal
- Article date:
- October 20, 2003
- Author:
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Orange County's Credit Union has filed a lawsuit against numerous defendants alleging a "pattern of racketeering activity" involving more than 180 motor vehicles. The suit claims the CU suffered $285,000 in losses from six fraudulent auto loans.
According to the complaint, a copy of which was provided to The Credit Union Journal by Orange County's CU, more than 20 credit unions and banks in the county have been defrauded by a intricately planned, far-reaching "vehicle ring" that has been operating since January 2000.
The suit alleges several defendants operate a business known as the "Duty Free Auto Club" in Costa Mesa, Calif. These defendants allegedly ...