Car dealer turns himself in after fraud allegations
By: Import User
Updated: January 7, 2009
A Monticello car dealer who authorities
believe defrauded more than 50 customers has turned himself in.
A judge set bond for Rick E Funderburg, owner of Rick`s Auto
Outlet of Monticello, at 500-thousand dollars. Funderburg is charged with theft by deception, operating a continuing criminal enterprise and defrauding a secured creditor.
Funderburg is accused of selling trade-in cars without paying off the old loans. He also is suspected of selling new cars without paying the wholesalers who furnished the vehicles.
Prosecutors say 55 consumers, three lending institutions and four car wholesalers have filed complaints. Investigators estimated Funderburg netted up to one million dollars.
