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Former GM Arrested over $760k Fraud | DrivingSales News

Report: General Manager Scams Dealership For $760k, Putting Them Out Of Business

January 25, 2016 0 Comments

A former general manager of an FCA dealership has been arrested and charged with defrauding his former employer out of hundreds of thousands of dollars and is also being blamed for putting that store out of business.

Jeffrey Michael Huey, 48, has been arrested and charged with fraud from the store he used to manage, FCA dealership New Wilmington Motors. According to New Castle News (NCN), Huey is charged with defrauding the dealership out of $764,635, 19 felony counts of theft by deception, 20 counts of receiving stolen property, three counts of deceptive business practices, three counts of tampering with records and one misdemeanor charge of theft by deception.

Huey managed the dealership as GM between 2009 and 2012 and was fired after the dealership owner found accounting discrepancies. The dealership owner brought in an outside auditor in response to contact from Chrysler who claimed the store had $830,000 in new vehicle inventory when the general ledger claimed that number was only $305,000.

NCN reports indicate Huey was paid $5000 per month and a year-end bonus of 50 percent of dealership profits. In three years, Huey was reportedly paid $608,383 in bonuses based off his reporting of dealership profits. NCN reports during Huey’s tenure as GM one salesman was shorted $42,000 and another $2,500. While Huey was GM there was $10,000 in petty cash that disappeared without any receipts.

The dealership reportedly lost $764,635 due to fraud on the part of Huey and after his firing in 2012; the store didn’t last much longer. In 2014, the store was sold and is no longer a Chrysler dealership.

Huey was arraigned before a district Judge and was released over $100,000 bond. According to WFMJ, It was also discovered during Huey’s tenure as GM $52,000 was misappropriated in dealership credit card transactions.

About the Author:

The DrivingSales News team is dedicated to breaking the relevant and the tough stories affecting car dealers. Have questions for DrivingSales News? Reach the team at news@drivingsales.com.

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