Mtch Simpson of Cornelia, who orchestrated a $3 million scheme to defraud companies that provided floor-plan financing to his Cleveland used-car dealership, has pleaded guilty to wire fraud.
“This defendant abused the trust of the companies that loaned him money to operate his car dealership,” said U.S. Attorney Ryan K. Buchanan.
“Simpson deceived the lenders who placed their trust in him and now he will be held accountable for his greed,” said Mitchell Jackson, Senior Supervisory Special Agent, of the FBI’s Gainesville Office.
Simpson will be sentenced later this year.
You can read a detailed report on the case here including in depth information on how the scheme worked: Northern District of Georgia | Former Used-Car Dealer Convicted of $3 Million Fraud Scheme | United States Department of Justice