News and Press Releases

Former Car Dealer Pleads Guilty to Fraud

FOR IMMEDIATE RELEASE
November 7, 2012

Oklahoma City, Oklahoma – JOHN B. LANGLEY, 62, of Harrah, Oklahoma, has entered a guilty plea to making a false statement to a federally insured credit union, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma.

In 2008 and 2009, Langley owned and operated J&K Langley Corporation, which sold used cars in Oklahoma City under the name Bargain Network Auto Sales. On June 5, 2012, he was indicted for fraudulently taking out multiple loans on vehicles. In particular, the indictment alleged that he borrowed money from Municipal Employees Credit Union and pledged vehicles on his lot as collateral, when he knew that those vehicles had been pledged to Floorplan Xpress, a financing company that specializes in lending money to car dealers. The indictment also alleged that Langley defrauded the credit union by selling collateralized vehicles and failing to give the proceeds to the credit union to satisfy his loans.

Today, Langley pled guilty to giving a fictitious lien release letter on Floorplan Xpress letterhead to Municipal Employees Credit Union on March 23, 2009, in connection with a loan for a 2009 Nissan Maxima. In a plea agreement, he has agreed to pay restitution to the credit union in the amount of $200,806.57 and to Floorplan Xpress in the amount of $75,410.00. In addition to restitution, he faces a potential penalty of thirty years in prison and a fine of $1,000,000.00. Sentencing will take place in approximately ninety days.

These charges are the result of an investigation conducted by the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorney Scott E. Williams.

Reference is made to the indictment and other public filings for further information.

 

 

 

 

 

 

 

 

 

 

 

Return to Top

USAO Homepage
USAO Briefing Room
Justice 101
Join Our Press List
What Makes Schools Safer? Using science to discover what works. Federal funding available. Visit NIJ.gov, keywords: 'comprehensive school safety intiative'
United States Attorneys 225th Anniversary
Disaster Fraud Hotline

If you believe you have been a victim of fraud from a person or an organization soliciting relief funds on behalf of storm victims or have knowledge of waste, abuse, or allegations of mismanagement involving disaster relief operations, contact the National Center for Disaster Fraud toll free at:
(866) 720-5721
You can also fax information to:
(225) 334-4707
or e-mail it to:
disaster@leo.gov