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Auto Broker Cheats Car Buyers and Sellers out of Millions

Scott Radtke, owner of California Motoring Company in Clovis, CA works as a broker by matching interested buyers with sellers of automobiles. Court documents allege Radtke conned at least $2.8 million from 17 car dealerships, 11 financial institutions and 48 customers through fraudulent car sales transactions.

Beginning in September 2016 the Department of Motor Vehicles started receiving several complaints from Radtke’s customers who had purchased cars and never received titles or registration, and car dealerships that never received money for sales. DMV issued a statement that they have a zero tolerance policy for business conducted in this manner and they opened an investigation.

Radtke is suspected of employing several methods of stealing money from clients, many of whom were reported as elderly. Some of the accusations include scamming customers who had purchased vehicles for which he accepted payment. He then forged their names on fraudulent loan applications or payment plans from lenders for thousands of dollars over the amount of the initial transactions, which would force them by contract to foot the bill for their purchased vehicle a second time. Another alleged ploy took the form of accepting and selling trade-in vehicles without giving customers the money he had acquired from the sales.

55-year-old Radtke was arrested on Monday on 98 alleged criminal counts including theft from the elderly, fraud, forgery, check bouncing and multiple counts of grand theft. His bail was set at $681,000 and he was release on Thursday afternoon after posting bond.

If you or someone you love is suspected of theft, fraud or forgery, contact Orange County criminal defense lawyer Staycie R. Sena at (949) 477-8088 for a consultation now.