GT car / Salesman - Shiraaz Sookralli - Champion Porsche's VP of Marketing
09-15-2018, 10:24 AM
#856
Race Director
Originally Posted by LexVan
I wonder if, and when, our Moderators, will start pulling down the broker's ads in our Classifieds, for some of these GT car purchases and allocations????
Aren't most forum sponsors?
The whole GT3 board is even sponsored by a broker!!
09-15-2018, 10:24 AM
#857
I can’t beleive so many of these posts where people think this is just one man on a mission. Are people really that naive in this world. I guess the truth will come out but one man didn’t figure out a way to steal $2.5 million. You guys are all nuts. The truth will come out but my guess is Champion surely knew and is absolutely liable especially based on past history of this guy and to think they are just the innocent one here, wrong. Other sales people absolutely knew, no way a fellow worker is pulling in $2.5m and there was complete silence. The broker network, those rats will come out. PNCA while EVERYONE is defending them, sorry then knew. Again this isn’t 1 or 2 allocations and deals being snuck through. This is $2.5m worth of deals. All the rats will get exposed and in 5 years we will be watching an awesome show on dateline all about this web of deception.
Greed makes people do crazy things and this was a web of greed by all. Lastly those trying to defer this away from ADM talk, you are also nuts. If it wasn’t for ADMs this greed of a money grab would not have happened. For those affected, bummer. Hope you get your money back but you also have some liability in this. You had to smell something fishy along the way and again to think money was going to get you in front of the line, again greed. Greed is to blame for this mess.
Greed makes people do crazy things and this was a web of greed by all. Lastly those trying to defer this away from ADM talk, you are also nuts. If it wasn’t for ADMs this greed of a money grab would not have happened. For those affected, bummer. Hope you get your money back but you also have some liability in this. You had to smell something fishy along the way and again to think money was going to get you in front of the line, again greed. Greed is to blame for this mess.
09-15-2018, 10:34 AM
#858
Race Director
09-15-2018, 10:46 AM
#859
My feeling is ADM is the key. If champion was getting under MSRP then people at the dealership would question. But the ADM was random and an extra bonus, so if SS was handed 20k and dealer got 10k they had no reason to assume 10k wasn't the ADM it was all extra gravy on top. They got all the built in markup, the backend money from porsche, SS would have a lot of latitude to alter the ADMs, could say wow that guy bargained tough because he was on RL only 10k I got. But really got 20k and put 10k in his pocket. Idk there could be many ways.
09-15-2018, 10:52 AM
#860
Sub'd and eating popcorn while I read this thread.
I'm nowhere near the world of purchasing a GT series car, but this type of activity is very interesting to read about considering the scope of the fraud and the number of victims (allegedly).
I hope the customers get their money back. That's really the best outcome for everyone involved. If the allegations are true, then the dealership should make things right for their customers since that's what they're kind of known for. The perpetrator is gone, so there's no point in going after him for blood (so to speak).
I'm nowhere near the world of purchasing a GT series car, but this type of activity is very interesting to read about considering the scope of the fraud and the number of victims (allegedly).
I hope the customers get their money back. That's really the best outcome for everyone involved. If the allegations are true, then the dealership should make things right for their customers since that's what they're kind of known for. The perpetrator is gone, so there's no point in going after him for blood (so to speak).
09-15-2018, 11:13 AM
#861
What if you have a contract?
09-15-2018, 11:15 AM
#862
09-15-2018, 11:25 AM
#863
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If a contract is tied to fraud, I don’t see the contract going anywhere. Also, if a contract isn’t honored, doesn’t mean you automatically get a car, need to file suit and claim damages.
If any of the buyers were trying to use these deals to evade sales tax, could be a problem for them too.
If any of the buyers were trying to use these deals to evade sales tax, could be a problem for them too.
09-15-2018, 11:47 AM
#867
It was happening back in the 997 days. Sitting in showrooms and even discounted.
The hot economy, low % rates, and stock market has fueled this. Won't last forever. Everything cools off. Even the GT cars now have cooled off a bit and lots of "flipped" inventory out there and not getting as much as guys were expecting. Many dealers have even commented how many "preowned" .2's are out there for sale.
The hot economy, low % rates, and stock market has fueled this. Won't last forever. Everything cools off. Even the GT cars now have cooled off a bit and lots of "flipped" inventory out there and not getting as much as guys were expecting. Many dealers have even commented how many "preowned" .2's are out there for sale.
And when the economy starts to roll over next year, it ain't gonna be pretty.
We are already seeing a much "softer" real estate market here in the Bay Area that is more than usual for the Summer months.
09-15-2018, 11:49 AM
#868
09-15-2018, 11:52 AM
#869
Race Director
The only people trying to evade state sales taxes and federal income taxes are Shiraaz and possibly Champion Porsche themselves.
The car buyers were just trying to buy high demand cars and were willing to pay a premium to Champion, which through their Vice President Shiraaz was fraudulently depositing customers money into various accounts he oversaw. These accounts have been around for approx 10 years and he and Champion were sued earlier this year about deals that were going on before that regarding a 911R. All the links are posted on the first page of the thread. All public record.
Champion is far from a victim themselves.
The car buyers were just trying to buy high demand cars and were willing to pay a premium to Champion, which through their Vice President Shiraaz was fraudulently depositing customers money into various accounts he oversaw. These accounts have been around for approx 10 years and he and Champion were sued earlier this year about deals that were going on before that regarding a 911R. All the links are posted on the first page of the thread. All public record.
Champion is far from a victim themselves.
09-15-2018, 11:55 AM
#870
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Originally Posted by Bartleby7334
Two words: Montana LLC