Several credit unions were the alleged victims of an auto lease theft ring that involved a Miami Beach, Fla., police officer and nine other persons.
According to local media reports, the individuals involved in the ring sought out supposed buyers to secure financing from credit unions for cars that had already been bought and moved out of the country or to lease vehicles that were illegally subleased.
Two individuals, Tomas Manrique, 51, owner of Wachovia Auto Sales, and Todd Javon Smith Jr., 29, owner of Parelelas Motors, allegedly were the leaders of the auto lease ring, law enforcement officials said. The buyers would turn the vehicles in to Manrique and Smith who would then lease them to a third party.
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