Former RV Dealer to Serve 16 Months for Fraud

January 6, 2012 by · Comments Off on Former RV Dealer to Serve 16 Months for Fraud 

A former Mattoon, Ill., woman who co-owned an RV dealership has been sentenced to 16 months in federal prison and ordered to pay restitution of more than $400,000 for defrauding a local bank and the Illinois Department of Revenue.

According to the News-Gazette, Urbana, Chief U.S. District Judge Michael P. McCuskey sentenced Rebecca L. Shockley, 63, currently of Bradenton, Fla., on Wednesday (Jan. 5). He allowed her to remain free until March 7.

According to court documents, Shockley was co-owner of Quality Truck and Auto in Mattoon, which did business as Cross Country RV Center. Shockley acted as bookkeeper for the business which sold new and used recreational vehicles and related items.

Shockley pleaded guilty in May to one count each of mail fraud and bank fraud, admitting that from March 2007 to December 2008, she pledged vehicles as collateral to both the bank and another lender. Shockley had entered into the loan agreement, known as a floorplan line of credit, with the bank in mid-1999.

According to court documents, as the business’s financial condition deteriorated, Quality Truck and Auto was unable to pay off the secured loans it had received from the bank and the bank learned that the RVs that were supposed to be collateral had already been sold and the sales proceeds forwarded to the other lender.

Shockley further admitted that from July 2006 to December 2008, she under-reported the amounts subject to sales tax by $1.8 million. As a result, although Quality Truck and Auto collected $249,915 in sales taxes from more than 100 buyers, Shockley admitted that she remitted only $134,812 of the collected sales taxes to the state of Illinois, and kept the remainder for herself.

In addition, Shockley admitted that she under-reported the taxable retail sales of Quality Truck and Auto from 2006 to 2008.

McCuskey ordered Shockley to pay $412,028 in restitution, consisting of $279,438 to the bank and $132,590 to the Illinois Department of Revenue.


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