Car auction house owner going to prison for fraud

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International Classic Auction’s (ICA) owner Stanley Dean Torgerson will spend more than three years in prison for bilking customers of his classic car sales company.

The Maricopa County Attorney’s Office announced Aug. 16 that the 67-year-old Gilbert, Ariz., resident was also ordered by a judge to pay $1.5 million in restitution to his victims.

ICAlogoProsecutors say Torgerson sold vehicles through ICA but pocketed the money and never delivered the cars. He had been in business since 1989 but was accused of skimming sales proceeds and not delivering cars beginning in 2009.

Torgerson was arrested in 2011 and accused of defrauding approximately 50 victims from four states, Canada and England out of approximately $700,000. He was indicted in May 2011 on 101 counts including fraud and theft. Torgerson pleaded guilty to three counts of fraudulent schemes and one of theft in a June plea agreement.

Torgerson tried to blame employees for embezzling the money. However, no other employees of ICA are reportedly facing charges stemming from this case.

 

 

One Response to Car auction house owner going to prison for fraud

  1. oldcardude says:

    These kind of people really go beyond decency. I can’t stomach the thought of people taking advantage of people when they are in a position of authority. Most people who auction their cars do so to buy something else and when they get ripped off they have no way to replace that loss. I would like to ask him “was it worth it?”….. 67 years old and going too prison….What a greedy dumb ass!

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