CENTER POINT, Iowa (KCRG) – The Linn County Sheriff’s Office began seizing dozens of vehicles from a now-closed Eastern Iowa dealership accused of an elaborate fraud scheme.
Stellantis Financial Group filed a lawsuit against Sky Auto Mall and its owners, the auto family, earlier this month. It claims the Tovstanovsky family arranged a scheme to take out double loans on cars it had for sale on its lot and maintained two financial books to hide the second loans. In all, Stellantis, which makes auot brands including Chrysler, Jeep and Fiat, says the Tovstanovsky family owes more than $12 million.
At a hearing last week, a Linn County judge approved a writ of replevin, allowing Stellantis to seize dozens of vehicles from Stellantis. The Linn County Sheriff’s Office arrived on Thursday with multiple vehicle carriers to start hauling away vehicles.
Since the lawsuit was filed, Sky Auto Mall closed both its Center Point and Newhall locations and laid off 76 employees. Some told KCRG they learned they lost their job from watching the news…