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Keeping your edge in the competitive market
The master of 1025 Old Country Road Westbury Long Island management company that subleased cars from cash-strapped owners was arrested yesterday for pocketing the lease money, Nassau County officials said.
George Fallica, the master of Automotive Management Co., which did business as G.C.F. Leasing, was charged with fraud, grand larceny, forgery as well as other crimes, Nassau County Da Denis Dillon said.
"Our investigation says the defendant was needed for various types of criminal activities . . . which generated approximately 75 complaints to my office," Dillon said.
The provider, at 1025 Old Country Road, got newspaper ads saying it might help people that had leased cars but were not able or unwilling to make additional payments.
The corporation promised it may well find customers to take control the lease agreements, keep your payments current and change the car's license, registration and insurance records to show that a different driver was now leasing the automobile.
Fallica did sublease the cars, Dillon said, but he failed to keep his other p romises.
As an example, he was quoted saying, one Long Island resident given back his 1991 BMW to Fallica in September 1995. Your car was subleased to someone that made $7,470 in payments to Fallica. But Fallica only gave $990 to the holder in the car's original lease, and kept what's left, Dillon said.
Fallica later repossessed the vehicle and subleased it again. This period he received $6,570 in payments, and turned not one of the money over to the holder in the car's original lease, Dillon said.
Fallica put copies of an Pennsylvania license plate within the cars he sublet, Dillon said.
Vehicles produced phony temporary licenses and fraudulently obtained insurance cards for any vehicles, Dillon said.
Fallica, 48, of Oneck Lane, Westhampton Beach, was charged with eight counts of grand larceny; three counts of forgery; three counts of falsifying business records; fraudulent manufacturing of license plates, and scheming to defraud.
He faces up to seven years in prison if convicted.
