Did Champion Porsche really rip off more than 30 GT3 buyers' deposits?
09-12-2018, 10:17 PM
#77
Race Director
Originally Posted by Lapis
I don’t think anyone can make that assumption. A Porsche dealership is worth a lot more than any kickback or benefit that someone in ownership could possibly have had to gain from allowing this to happen. So I really doubt it.
Again, this is most likely a case of negligence on the part of ownership and management insofar as them not properly supervising this criminal who had their trust and worked at their dealership, not intentional fraud. It’s just too stupid of a scheme for even a criminally minded business owner to undertake as they would obviously get caught and the criminal upside is so small anyway, relatively speaking.
Again, this is most likely a case of negligence on the part of ownership and management insofar as them not properly supervising this criminal who had their trust and worked at their dealership, not intentional fraud. It’s just too stupid of a scheme for even a criminally minded business owner to undertake as they would obviously get caught and the criminal upside is so small anyway, relatively speaking.
Sorry if I wasn't clear enough. I find it hard to believe the 911R story didn't go unnoticed to them which should have raised some red flags as to Shiraaz Sookralli's unethical ways.
I don't think ownership knew and condoned this allocation and Champion Autosports case. Why on earth would they?? He was stealing from them. I'm just saying that they should have had more checks and balances in place to protect themselves and their customers. Yes, negligence on their part.
09-12-2018, 10:22 PM
#78
Race Director
Thats what I’m thinking too....when you put a deposit on a car don’t you have paperwork to fill out and sign and give the finance department your deposit that goes toward the actual cost of the car you are ordering? I surely wouldn’t just walk,in and hand the sale guy my money and walk out...
09-13-2018, 03:28 AM
#79
Coverage for $2.5M? Highly unlikely. Certain states mandate customer deposits be held in cash trust accounts to protect the consumer. The dealership needs a serious internal controls review - when things run this loose, fraud may not be limited to one rogue employee.
09-13-2018, 08:21 PM
#80
Rennlist Member
They most likely have a crime and employee dishonesty policy. And I'm sure the person who sold it to them was't an idiot and knew they could afford proper limits. I would imagine they have at least 5M of coverage. I'm in the business and work for a big firm in NYC area. We write many clients like this. I'm sure there is coverage and everyone will be made whole.
09-13-2018, 09:18 PM
#81
They most likely have a crime and employee dishonesty policy. And I'm sure the person who sold it to them was't an idiot and knew they could afford proper limits. I would imagine they have at least 5M of coverage. I'm in the business and work for a big firm in NYC area. We write many clients like this. I'm sure there is coverage and everyone will be made whole.
09-13-2018, 09:37 PM
#82
I do and most big dealers have at least 5 mil (usually 10mil combined single limits).
09-13-2018, 09:47 PM
#83
09-13-2018, 09:52 PM
#84
And this fraud isn’t on PAG. The dealer principal is responsible, and will be held accountable. They can’t do the right thing fast enough.
09-13-2018, 09:53 PM
#85
Rennlist Member
09-13-2018, 10:07 PM
#86
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Since the other thread is much longer than this one, and they overlap, I suggest that this thread be closed and we all discuss in the other thread.
09-13-2018, 10:08 PM
#87
Race Director
Originally Posted by Manifold
Since the other thread is much longer than this one, and they overlap, I suggest that this thread be closed and we all discuss in the other thread.
I AGREE!!
Doing the cause a disservice having this one which was started after the first one.
OP. Please close it.
09-13-2018, 10:13 PM
#89
Rennlist Member
Most policies the carrier will allow the insured to pick their own council as long as the hourly rate is in line with the carriers choice of council. So Champion is either referring this to their attorney of choice, or the attorney assigned by the carrier.
09-13-2018, 10:16 PM
#90
Rennlist Member
Yes, I do. And I never sell price. That is not the type of relationship that ever has a happy ending. I sell coverage and service. That is how I maintain current relationships and procure new ones.
