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

Old 09-14-2018, 07:07 PM
  #691  
carz80am
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More sites picking it up, dfoster started a fire, going to be a tough one to put out

https://www.topspeed.com/cars/car-news/vp-of-america-s-largest-porsche-dealer-scams-customers-for-25-million-vanishes-without-a-trace-ar182532.html
Old 09-14-2018, 07:16 PM
  #692  
goin2drt
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Originally Posted by sampelligrino
Maybe for some, but definitely not for all. At least for 25 people who got burned by this and others like myself who are getting fed up with the antics/games. Kind of tough to swallow getting pushed around on a $160-200k purchase minimum with cash in hand and having to "earn" a dealer's business at this point

Browsing Ferrari inventory right now actually just for the hell of it, first time I've done this in awhile
I hear you loud and clear. That was my deal with the .2. I don't have the money like I guess just about everyone on here so I can't build these relationships by buying a bunch of dog cars to earn a GT spot. I can give my service loyalty, buy donuts and schmooze with the best of them. That doesn't go very far in SoCal when you are competing with whales.

I was left to buy a low mileage .1 GT3. Don't get me wrong I love the car but I was ready to spec the "perfect" car, pay MSRP and then drive the **** out of it (up to 12K since 11/17). Instead we get to see all these crappy specs sitting on "good guy" lots for these premiums while the shenanigans continue with these inside deals. Honestly I hope this latest fiasco BLOWS up and all these people get called out including PCNA.
Old 09-14-2018, 07:23 PM
  #693  
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https://www.topspeed.com/cars/car-ne...-ar182532.html


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https://www.carscoops.com/2018/09/po...s-2-5-million/


LOTS OF COVERAGE

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http://www.thedrive.com/news/23576/a...buyer-deposits

https://jalopnik.com/a-rep-from-the-...ski-1829066180

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Last edited by STG; 09-14-2018 at 07:41 PM.
Old 09-14-2018, 07:23 PM
  #694  
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Originally Posted by DainLankfordLA
That's probably one of your issues...donuts LOL. You better get into cases of good wine.
Touche. You know what I meant. When dudes are walking into Newport Porsche and handing out Pappy, my donuts don't compete.
Old 09-14-2018, 07:23 PM
  #695  
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Originally Posted by Archimedes
I'm not sure you understand what accounting controls are, but this is precisely why you put good controls in place. So that there is not the opportunity for someone to do this. We don't really know much of any of the facts yet, but even the few that we do scream that very basic controls were not put in place. If they were, he would not have been able to perpetrate this type of fraud. The very reason he was able to do it without being detected was because there were no controls. Let me give you a simple example. Have two people review every single deposit/deposit contract and have at least two people not in a direct report responsibility review and sign off on any changes to any build. Additionally, keep a simple log of those build changes and make sure that at least two people have review access and approval responsibility. Most large frauds in history involved poorly designed or entirely absent controls. It's the sole reason we got SARBOX.
I know exactly what accounting controls are, I work with SOX controls every day. That said there are ways around them, especially from how this sounds. If the monies never even touch the dealership their controls can be kept out of play, so it wouldn't matter that you may have two people review the contracts and deposits. Shiraaz was controlling that part of the process and you can easily keep the client quiet by saying they won't see the mark-up and that part of the deposit on the contract because he's doing you a solid to save you sales tax. This didn't fall apart until he started taking more deposits than he had cars for. He was greedy before, but he controlled the situation and people got their cars. Now he got super greedy and it blew up. I can see many ways to circumvent the controls that should be in place. Now that said they were probably just basic controls that got circumvented in different ways. I have seen controls where I work take time to catch someone doing something wrong so there are ways. And the controls could be in place but not be fully utilized (which is a huge problem). They obviously need to implement stronger controls, I will agree with you there, but in this situation that's a day late and a dollar short. It's easy to look at a situation like this and say what should have been done. I can see many ways this fraud can succeed for a while. It wouldn't surprise me if the amounts he embezzled end up being over $10M.
Old 09-14-2018, 07:27 PM
  #696  
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Jesus, this is turning into a another value/ADM thread..... Go Rennlist!!!
Old 09-14-2018, 07:33 PM
  #697  
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Originally Posted by 993KHTO
Not my point really... point is:
1. Open case where the attorney is defending both Champion and Sookralli in the Rampage 911r case?
2. Now same attorney is representing Champion and suing Sookralli?
I don't know law, but that seems like a conflict of interest?
It is fairly typical for a single lawyer to represent a company and individual officiers of the company (first suit re: 911R). The engagement letter generally says when a conflict arises, the lawyer represents the company, not the officer. The engagement letter resolves the conflict of interest in most instances. Obviously there are details and I have no particular knowledge of this situation, but this is fairly standard practice in the legal world.

Old 09-14-2018, 07:37 PM
  #698  
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Originally Posted by Engeljizzle
Jesus, this is turning into a another value/ADM thread..... Go Rennlist!!!
This thread wouldn't exist if there were no ADMs? The whole point is the ADMs were stolen/people got taken advantage of by a POS who leveraged Champion to sell allocations he didn't have to people who really wanted the car, and had no choice but to go out of state to the "#1 volume dealer in the country"
Old 09-14-2018, 07:42 PM
  #699  
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Default Champion Official Statement


Old 09-14-2018, 07:43 PM
  #700  
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Just posted on Instagram
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Old 09-14-2018, 07:47 PM
  #701  
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Hope it is true (them claiming victim and no knowledge) HOWEVER it is $2.5 Million dollars. NO ONE at the dealer had ANY CLUE? The dude just lived a normal humble life and no one questioned his behavior. Hmmmmm. Can't wait for all the facts to roll out on this one. Probably won't be for years.
Old 09-14-2018, 07:48 PM
  #702  
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Originally Posted by redmonkey928
Just posted on Instagram
did they forget to sign?
Old 09-14-2018, 07:48 PM
  #703  
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Guess they realized their reputation is worth more than $2.5 million. Good on them.
Old 09-14-2018, 07:49 PM
  #704  
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Good they'll pay back the stolen money. My guess is they turned a blind eye to Scam A where he was creaming off some of the ADMs but didn't know about Scam B where multiple deposits taken for same car which was obviously not going to go unnoticed in the end! Maybe the old man found out and got bumped off.
Old 09-14-2018, 07:49 PM
  #705  
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Originally Posted by 993KHTO



Who are the "Others who appear to have been involved in the fraud??"

Yeah, they should have been on it a LONG TIME ago, like years ago, when Shiraaz's shady fraudulent dealings were first exposed and known to Champion.

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"Rampage wasn't kept a secret internally at Champion"

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