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  1. #1
    Join Date
    Nov 2010
    Posts
    3

    Default Car Theft and Fraud

    My question involves a consumer law issue in the State of: California
    Long story short, I bought a car that turned out to be stolen. I bought the car in March with a clean Carfax (which I still have, but carfax has an indemnification clause in their terms and conditions and apparently does not guarantee information), got the vehicle inspected, transferred money from my BofA account to that of the seller, and took delivery. Today the police seized the car, telling me that it was stolen and that the seller has sold this car multiple times, but I was the only one to get delivery. The car is owned by MB Financial and the seller apparently defrauded them to get the car, then set up bank accounts, etc. using false names and SSNs. My insurance company has just informed me that this 'chicanery' is not covered and the detective who came to seize the car told me that, although I am holder in due course and have payed value of consideration, had no notice of fraud, and followed the DMV recommended procedure for ensuring vehicle history, I have no legal right to the car. The CHP will only provide me with the con artist's actual information after they have filed their criminal suit and chanced are they guy will be in prison with no assets by then. I am out tens of thousands of dollars and have lost the car. Please help me decide how to proceed.
    Thanks

  2. #2
    Join Date
    Nov 2010
    Posts
    3

    Default Re: Car Theft and Fraud

    Have I posted this in the right forum?

  3. #3
    Join Date
    Jan 2010
    Location
    New Jersey
    Posts
    3,666

    Default Re: Car Theft and Fraud

    All the information you received is accurate. You will have to sue the guy that you bought the car from for the money that you have lost on this transaction. He sold you a car that didn't belong to him. Mercedes Benz is the legal owner of the vehicle. When you bought the vehicle did the seller hand you a title issued from a state or just a bill of sale?

  4. #4
    Join Date
    Mar 2008
    Posts
    1,995

    Default Re: Car Theft and Fraud

    If the loss is substantial, you might check on being able to claim a loss on your tax return. See:

    http://www.crimes-of-persuasion.com/..._deduction.htm

    Good luck.

  5. #5
    Join Date
    Nov 2010
    Posts
    3

    Default Re: Car Theft and Fraud

    He gave me what must have been a duplicate or fraudulent title.

    I'll definitely look into claiming a loss on my taxes, thanks.

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