CENTER POINT, Iowa (KCRG) – Stellantis, the maker of Jeep, Chrysler, Fiat and other car brands, filed an updated petition Monday seeking to immediately seize much of the inventory from an Eastern Iowa car dealership over fears the dealer may move the vehicles.
Stellantis claims Sky Auto Mall, with locations in Center Point and Newhall, had schemed to defraud Steallantis and other lenders. According to its lawsuit, Sky Auto Mall took out multiple loans on the same vehicles it offered for sale at its dealerships but then hid the second loans from the other lenders. Stellantis says Sky Auto Mall kept separate financial records to hide the multiple loans and claims Sky still owes more than $12 million.
In its latest filing, Stellantis warns it believes Sky Auto Mall may be planning to move or remove vehicles from the dealership lots. Stellantis says it “received information” that one of Sky’s owners had visited the dealership last week and “indicated that a transport truck may soon be arriving at the location, presumably with the intention of removing vehicle Collateral.”…