According to a press release from the U.S. Attorney’s Office of the Middle District of Florida, an Orlando auto dealer has pleaded guilty to three counts of tampering with odometers by significantly rolling back the mileage before selling his lot to other used vehicle dealers.
Drew Mitchell Schreiber of Orlando is the owner of Central Florida Automotive Group, now named Southeastern Credit Union Solutions, in Winter Garden, Florida. The press release states that Schreiber admitted to purchasing high-mileage used vehicles from wholesale automobile autions throughout the Sunshine State, and entered into the courtroom with a plea deal.
After purchasing these used vehicles, their odometers were then rolled back as much as 428,000 mile and resold to unsuspecting used-vehicle dealers via auto auctions or by online direct sales. The rolled-back vehicles were then sold to victims throughout the United States, enriching Schreiber with fraudulent gains.
Because many of these vehicles were more than 10 years old, Shreiber was able to obtain so-called “exempt” titles that did not reveal the actual mileage of the vehicles.