Clarksville auto dealer charged in federal court with bank fraud and falsifying loan information
CLARKSVILLE, TN (CLARKSVILLE NOW) – A car dealer who owned a business in Clarksville was charged in federal court Thursday with bank fraud, stemming from a scheme in which he falsified loan information and defrauded several credit unions.
Andrew Oliver, 31, of Cadiz, Kentucky, owner of First Choice Auto Sales in Clarksville and AJ’s Auto Sales in Hopkinsville, was charged in connection with a scheme involving obtaining loans from several financial institutions for the purchase of the same vehicles, according to the charges. announced by U.S. Attorney Mark H. Wildasin for the Central District of Tennessee.
The charges allege that Oliver inflated his income on loan application documents and omitted the fact that he had previously obtained loans from other financial institutions relating to the same vehicle, according to a press release from David Boling, manager. Public Information for the United States Attorney’s Office for the Middle District of Tennessee.
Specifically, the information alleges that Oliver obtained loans totaling $215,000 from three separate credit unions for the purchase of the same Cadillac, according to the release.
He also obtained loans totaling $340,000 from six different credit unions for the purchase of a Ford F-450, and in total the fraudulent loans caused a total loss to the credit unions of $368,585.52. $, the statement continues.
When contacted by Clarksville Now, Oliver said he had no comment on the charges.
If convicted, Oliver faces up to 30 years in prison and a $1 million fine. The United States is also seeking to forfeit any property derived from the proceeds of crime, including a monetary judgment in the amount of $368,585.52.
The case has been investigated by the FBI and is being prosecuted by Assistant US Attorney Kathryn W. Booth.