Clarksville car dealer charged with bank fraud | USAO-MDTN

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NASHVILLE- A Clarksville, Tennessee car dealership was charged today with bank fraud, stemming from a fraudulent scheme in which he obtained loans from multiple credit unions for the same vehicles, U.S. Attorney Mark H. Wildasin for the Central District of Tennessee.

Andrew Oliver, 31, of Cadiz, Ky., owner of First Choice Auto Sales in Clarksville, Tennessee, and AJ’s Auto Sales in Hopkinsville, Ky., was charged in a criminal information with obtaining loans from several financial institutions on the same vehicles. The information alleges 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.

Specifically, the information alleges that Oliver obtained loans totaling $215,000 from three credit unions for the purchase of the same Cadillac and obtained loans totaling $340,000 from six credit unions for the purchase of a Ford F-450. The fraudulent loans caused a total loss to the credit unions of $368,585.52.

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.

This case has been investigated by the FBI and is being prosecuted by Assistant US Attorney Kathryn W. Booth.

Accusations are just accusations. The accused is presumed innocent until proven guilty in court.

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