Arrests in California Fraud Ring Targeting Auto Dealers and Insurers

A four-year investigation into an organized fraud ring has uncovered a million-dollar scheme targeting high-end vehicles through auto loan and insurance fraud has led to several arrests, according to the California Department of Insurance. CDI said it executed coordinated arrest warrants of the suspects in the early morning hours of Friday. The alleged fraud ring purchased or leased high-end vehicles, many of which were acquired fraudulently by various individuals who lied about their employment or income on credit applications to qualify for loans or leases, according to CDI.

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