Rochester man pleads guilty to wire fraud
ROCHESTER, N.Y.—U.S. Attorney William J. Hochul, Jr. announced today that David Hoffman, 40, of Rochester, N.Y., pleaded guilty before the U.S. District Judge Charles J. Siragusa, to wire fraud. The charge carries a maximum penalty of 20 years in prison and a fine of $250,000.
Assistant U.S. Attorney Tiffany H. Lee, who is handling the case, stated that between June 2008 and September 2008, the defendant operated an auto dealership. Hoffman applied for financing from an automotive financing company, Dealer Services Corporation (DSC) for an inventory of vehicles. After receiving the financing, the defendant then applied for an obtained financing for the exact same vehicles already financed by DSC from another financing company, Automotive Finance Corporation (AFC).
Hoffman received over $166,000 in duplicate financing based on the fraudulent scheme for approximately 13 vehicles.
The plea was the culmination of an investigation on the part of the Federal Bureau of Investigation.