Former dealer principal indicted
The former dealer principal of a Nissan store in Elizabeth City, N.C., faces a November arraignment on wire fraud and money laundering charges of submitting “substantial false and misleading information relating to vehicles under floor plans” to Nissan Motor Acceptance Corp.
The federal indictment also accuses Jonathan Davenport of diverting funds belonging to Alliance Nissan for personal purposes, including real estate, boats and “cosmetic surgery payments for acquaintances and employees.”
He was a minority shareholder and ran the store's day-to-day operations.
Due to the fraud, the company's “silent but majority shareholder was forced to pay NMAC and Nissan over $1 million” to retain ownership of Alliance, the indictment said.
You can reach Eric Freedman at firstname.lastname@example.org.