Rennlisters Expose Porsche Salesman Who Disappeared with $2.5 Mil
For years, an employee at the largest U.S. Porsche dealer scammed customers out of millions, and no one was the wiser.
The world of limited edition Porsche models has become hyper-competitive. It’s a game filled with collectors and enthusiasts chomping at the bit to get their hands on the latest and greatest vehicles Porsche has to offer. Some do it for profit, others simply out of a passion for automobiles. But when you mix demand with big money and greed, someone is bound to try and take advantage of the situation.
And it appears that a now missing Porsche dealership employee did exactly that – swindle a host of potential clients out of $2.5 million dollars in deposit money. The man, Shiraaz Sookralli, held the title of vice president of marketing at the largest Porsche dealer in the U.S. – Champion Porsche in Pompano Beach, Florida. He collected the missing funds as deposits for limited edition models over the period of several years. But as it turns out, none of those cars actually existed. And now Sookralli and the cash are nowhere to be found.
The situation seemingly came out of nowhere last week, when Rennlist member dfoster posted a query asking if anyone had dealt with Sookralli in the past. And what followed was an explosive discussion in which STG revealed the details of what was really going on.
“He set up his own shill company called Champion Autosports and took deposits for Porsche GT car allocations through it. Now he’s missing. He was also involved in some fraudulent activity at Champion Porsche earlier this year and last year regarding a 911R. Was allowed to continue his employment with them after that, which allowed him to further his $2.5MM fraud. He has supposedly been with Champion Porsche around 10 years.”
A lawsuit was filed over the 911R fraud case back in February by another dealer, M & L Luxury Cars. The reseller entered into an agreement to purchase two of the rare cars and placed a $350,000 deposit. The first was never delivered. The second was, but with a $350,000 markup. Attempts to obtain a refund were met with multiple bad checks from Sookralli. Champion already knew about this incident, which took place back in 2016.
“It looks as if Champion IS NOT honoring their deposits right now, but directing victims to their attorney. Champion is also calling themselves a victim. Bad customer relations treating their customers like this. They have offered no apologies and management isn’t taking victims calls. I feel very sorry for the guys who were taken advantage of here. Hopefully some resolution by PCNA / Porsche Cars North America and Champion Porsche happens here.”
Amazingly enough, Sookralli’s shell company was created way back in 2010. Thus, it’s very likely the fraud goes back even further. In the meantime, a new lawsuit was also filed last week in Florida’s 17th Circuit Court.
That explosive paperwork alleges that Sookralli created fake order documents for customers and then diverted their deposit money into his own bank account. That account has since been emptied. The lawsuit also claims that Sookralli admitted all of this to Champion Porsche via emails and phone calls.
Meanwhile, Champion Porsche claims to have no knowledge of what Sookralli was up to over the last few years. Those who fell victim to the scam are understandably skeptical. As is The Drive, who reached out to Porsche Cars North America and spoke with two of Sookralli’s victims.
Rennlisters Expose Porsche Salesman Who Disappeared with $2.5 Mil continued…