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GT car / Salesman - Shiraaz Sookralli - Champion Porsche's VP of Marketing

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GT car / Salesman - Shiraaz Sookralli - Champion Porsche's VP of Marketing

 
Old 09-12-2018, 05:14 PM
  #271  
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Originally Posted by STG View Post
Surprised no NEWS outlets have reported on this?? Anyone seen any coverage? It's a HUGE story. Even these auto websites?
Probably because it affects 24 people that paid $100k as a deposit for a Porsche.
Most people think a Porsche is a "dream" car and that includes a base Boxster and they have no clue what a GT car is. I told my wife about this, who has no interest in cars, and she didn't really seem to care. If murder is involved, sure, newsworthy and maybe a Dateline episode. Other than that, its a first world problem that affected a very small number of wealthy people. This type of fraud is occurring all over the place. Also most folks would never fathom paying MSRP for a car and a ADM is even crazier. Even in the auto world, this isn't mainstream, you need to dig even deeper for the "enthusiasts" who would care.

But I hear you, it's HUGE but only for car nuts like ourselves.
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Old 09-12-2018, 05:19 PM
  #272  
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Originally Posted by 3Series View Post
Probably because it affects 24 people that paid $100k as a deposit for a Porsche.
Most people think a Porsche is a "dream" car and that includes a base Boxster and they have no clue what a GT car is. I told my wife about this, who has no interest in cars, and she didn't really seem to care. If murder is involved, sure, newsworthy and maybe a Dateline episode. Other than that, its a first world problem that affected a very small number of wealthy people. This type of fraud is occurring all over the place. Also most folks would never fathom paying MSRP for a car and a ADM is even crazier. Even in the auto world, this isn't mainstream, you need to dig even deeper for the "enthusiasts" who would care.

But I hear you, it's HUGE but only for car nuts like ourselves.
The only news that would cover this would be Jalopnik
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Old 09-12-2018, 05:21 PM
  #273  
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Originally Posted by Archimedes View Post
Because I negotiate my company's insurance every year and I've had this discussion with multiple brokers over many years. Crime/fraud insurance coverage is separate from standard commercial liability, it's expensive, and it has a number of exclusions, one of which is that it doesn't cover active fraud by owners or senior management. Any victim here thinking that there's going to be an easy payout on this from some insurance policy is fooling themselves. Oh, and another standard exclusion from coverage is damages from lawsuits...
ahh yes the omniscient Archimedes.
Don’t believe I would want you negotiating any insurance policies In a business.

How about this simple scenario; car salesman lends out Car repeatedly to friends and than that friend runs over a teenager , killing her. You do realize a dealership with dozens of employees driving cars on public roads in of itself would present a vicarious situation. The other posters right, stop talking about things you don’t understand .
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Old 09-12-2018, 05:22 PM
  #274  
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Originally Posted by Alan Smithee View Post
The filing was 2/22/18, but the transaction in question was over two years ago...certainly Champion was made aware when said 911R was not delivered back then...
Not necessarily. Assumption on your part.

Originally Posted by jvmax View Post
They were an MSRP dealership, but the salesman made them a ADM dealership...
Yeah, I bet this was what's going on. My thoughts and WAG analysis.

It's been posted here that at least one buyer made a deposit to the fictitious company yet received a car. I'd be willing to bet that this was the norm, rather than the exception at least until recently. If multiple buyers had not had cars delivered this situation would have gotten publicized fast. And based on the documentation posted, I don't think that this guy set this up just recently, took some $ and then didn't deliver 24 cars. I'd be willing to bet what he's really been doing has been marking up ADM's and then siphoning off all or part of those ADM's and processing orders for cars that were actually delivered to buyers. That way buyers are getting cars, Champion stays unaware to the situation and he is skimming money.

I also think that 24 buyers for $2.5 million is kind of skewed. An average deposit of $100k per? I know it's not unheard of but really? I'm willing to bet it's more buyers over longer period of time.

I'd also be willing to bet that the first that Champion knew of this Rampage deal was when they were served with the lawsuit. And who knows what happened after that? Must have been some very interesting conversations. They should have fired him then but didn't.
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Old 09-12-2018, 05:32 PM
  #275  
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Greed can cause people to make bad decisions. The sales guy was obviously greedy. The dealer probably saw ADM profits coming in because of this guy, and looked the other way when he did questionable things - don't ask, don't tell - though I very much doubt the dealer knew what was really going on. The buyers of these cars were also unwise to pony up so much money for cars before they were delivered - sometimes it's better not to ignore warning signs and take that kind of risk in order to get something like a hard to get car.

I doubt the dealer is going to write any checks any time soon. Too much money involved. They'll size up the situation, get the advice of their lawyers, and then figure out how to proceed. Maybe there'll be a settlement where both the dealer and the buyers take a hit.
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Old 09-12-2018, 05:34 PM
  #276  
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Been following this today. Crazy story, specially since they are a local dealer to me and I will be taking delivery of my GT3 there within the next few days. I've dealt with Champion for years and everything has always been above board. Never met Shiraaz. The whole situation completely sucks and should have never happened, but I'm sure that Champion will make things right with all customers affected through their dealing with that Shiraaz individual once investigation of total customers and losses is determined and verified.
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Old 09-12-2018, 05:34 PM
  #277  
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Originally Posted by Needsdecaf View Post
Not necessarily. Assumption on your part.
The buyer thought they were dealing with Champion. Pretty good assumption that the issue was escalated above the salesman level when their $350k deposit did not result in a car...or full refund of said deposit...back in 2016. Wouldn't you say?
Originally Posted by Needsdecaf View Post
I'd also be willing to bet that the first that Champion knew of this Rampage deal was when they were served with the lawsuit.
Assumption on your part. You really think that in two years there were no attempts to settle with Champion out of court?
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Old 09-12-2018, 05:39 PM
  #278  
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Originally Posted by Alan Smithee View Post
The buyer thought they were dealing with Champion. Pretty good assumption that the issue was escalated above the salesman level when their $350k deposit did not result in a car...or full refund of said deposit...back in 2016. Wouldn't you say?
While it is an assumption, I would surely have escalated it myself if I were in that position.
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Old 09-12-2018, 05:40 PM
  #279  
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I spoke to Alan the Attourney, and I hope others call him immediately heĺs very approachable. Shriazz definitely had me wire funds into his fake Champion Autosports account and then months later had me wire into the Copan Motors Inc. Dba Champion Motorsports account. Everything was wrong about my deal.
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Old 09-12-2018, 06:10 PM
  #280  
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Originally Posted by 3Series View Post
Probably because it affects 24 people that paid $100k as a deposit for a Porsche.
Most people think a Porsche is a "dream" car and that includes a base Boxster and they have no clue what a GT car is. I told my wife about this, who has no interest in cars, and she didn't really seem to care. If murder is involved, sure, newsworthy and maybe a Dateline episode. Other than that, its a first world problem that affected a very small number of wealthy people. This type of fraud is occurring all over the place. Also most folks would never fathom paying MSRP for a car and a ADM is even crazier. Even in the auto world, this isn't mainstream, you need to dig even deeper for the "enthusiasts" who would care.

But I hear you, it's HUGE but only for car nuts like ourselves.
+1. No one cares that a bunch of rich guys got ripped off except for the rich guys and the rest of us that can sympathize. Were you expecting a CNN Breaking News??

But honestly who drops $100k on a deposit?? As several have mentioned, they use these ADM tactics in the US cause they can! People are willing to pay it. We have seen the enemy and they is US!

Its a ****ty situation and they will find the guy at some point. Hopefully people get their money back from somewhere...
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Old 09-12-2018, 06:20 PM
  #281  
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Originally Posted by vern1
+1. No one cares that a bunch of rich guys got ripped off except for the rich guys and the rest of us that can sympathize. Were you expecting a CNN Breaking News??

A $2.5MM fraud is big news for the auto news outlets.

CNN?? They're too busy covering other worthless news.
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Old 09-12-2018, 06:25 PM
  #282  
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Default one buyer made a deposit to the fictitious company yet received a car

There sounds like a substantial amount of fact to look at Co-mingling of funds between accounts. I bet SS tried to delay letting the scam get exposed to optimize his take and got caught up in the fake schedule overtaking the real one. In this case he had to pay the dealership the deposit of a car from that fake account and buyer then got a car. This would provide a payment path from the fake Champion to the Real Champion accounts. I am not a lawyer but I bet this path will become important in determining how much the dealership was involved in the scam.

Originally Posted by Needsdecaf View Post
Not necessarily. Assumption on your part.
Yeah, I bet this was what's going on. My thoughts and WAG analysis.

It's been posted here that at least one buyer made a deposit to the fictitious company yet received a car. I'd be willing to bet that this was the norm, rather than the exception at least until recently. If multiple buyers had not had cars delivered this situation would have gotten publicized fast. And based on the documentation posted, I don't think that this guy set this up just recently, took some $ and then didn't deliver 24 cars. I'd be willing to bet what he's really been doing has been marking up ADM's and then siphoning off all or part of those ADM's and processing orders for cars that were actually delivered to buyers. That way buyers are getting cars, Champion stays unaware to the situation and he is skimming money.

I also think that 24 buyers for $2.5 million is kind of skewed. An average deposit of $100k per? I know it's not unheard of but really? I'm willing to bet it's more buyers over longer period of time.

I'd also be willing to bet that the first that Champion knew of this Rampage deal was when they were served with the lawsuit. And who knows what happened after that? Must have been some very interesting conversations. They should have fired him then but didn't.
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Old 09-12-2018, 06:28 PM
  #283  
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Originally Posted by STG View Post
A $2.5MM fraud is big news for the auto news outlets.

CNN?? They're too busy covering other worthless news.
I suppose and i am sure it will be coming out in due course but its hardly earth shaking news. Feel for the guys for sure but a little perspective is needed

Arent you talking about FOX??
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Old 09-12-2018, 06:32 PM
  #284  
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Some People probably did get cars to keep the thing rolling and some didn’t.....wonder if deceased owner knew..... never know...
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Old 09-12-2018, 06:34 PM
  #285  
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Originally Posted by Alan Smithee View Post
The buyer thought they were dealing with Champion. Pretty good assumption that the issue was escalated above the salesman level when their $350k deposit did not result in a car...or full refund of said deposit...back in 2016. Wouldn't you say?

Assumption on your part. You really think that in two years there were no attempts to settle with Champion out of court?
Maybe. If it's one client, maybe this guy was BS'ing his bosses about the situation and they bought it.

We're all making assumptions here. The temptation by many is to pile on and know the dealer knew about this for a while. Knowing how businesses work, I'm willing to bet that less was known than most people think. It's usually the way.

But no one really knows and we're all guessing.

Either way this situation is some distribution of amusing, fascinating, sad, maddening and plain out unbelievable.
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