Former car dealership general manager, an ex-cop, accused of stealing $29K

A missing vehicle title drove the discovery of nearly $29,000 in stolen cash at Central Ford in Trumann, Ark., money allegedly taken by the store's former general manager, a former Arkansas state trooper.

A fellow Central Ford employee paid nearly $10,000 cash for a vehicle down payment to Nicholas Holley, but never received the title, Trumann Police Chief Jonathan Redman told Automotive News.

Holley initially held off his colleague with excuses, but after 60 days, the employee called a supervisor at Central Chevrolet in Jonesboro, Ark., also part of Central Dealerships, owned by the Yarbrough family. Trumann is southeast of Jonesboro.

Dealership video footage and a lack of paperwork revealed the alleged swindles: Once the Central Ford dealership emptied, Holley snatched the money without officially recording the sale.

"Nick had taken that $9,400 in cash and placed it in his pocket," Redman said when describing the incident.

Dealership representatives shared findings with police and Holley was arrested Nov. 9 on accusations of theft of $25,000 or more from a business and first-degree forgery, both felonies. At the time, $28,756 was missing from the dealership, police said.

Holley attended a Nov. 10 hearing and Poinsett County District Court Judge Ron Hunter found probable cause and a $10,000 bond was set. Redman said Holley was released on bail. His next court appearance is set for Dec. 15.

Neither Holley nor the person who appears to be his lawyer responded to requests for comment and Central Ford management did not immediately return a request for comment.

Holley also would allegedly take a customer's cash down payment and send the correct paperwork to the finance department, according to a police report. He'd then alter either the sales amount or down payment to conceal whatever cash he took, police said, essentially creating a sales record switcheroo.

"It is pretty clever, unless you get caught," Redman said. "He got caught."

Police questioned Holley, 36, on Oct. 30 at Central Chevrolet until he asked for a lawyer. According to the police report, a captain told Holley they had obtained a felony warrant, but dealership representatives at the time declined to press charges if the money was repaid.

Dealership management called police again about 10 days later, saying they had discovered another $6,000 missing. Holley hadn't repaid anything and had stopped responding to the dealership's attempts to reach him, store officials told police.

Dealership representatives reached out to police again Tuesday, Nov. 14, with a new suspected total of about $45,000 taken from July to October, according to a police report. Holley started at Central Ford in June and later resigned, police said. Police did not give a number of victims.

The dealership told police Tuesday that Holley's lawyer informed them Holley's in-laws would repay the funds and that the dealership would drop the charges if that happened, management told police.

An email to Jimmy Turnbow, a deputy prosecuting attorney for Arkansas, inquiring about possible punishment for Holley if convicted and any change in charges based on the $45,000 figure, was not immediately returned.

A NEAReport.com story said conviction for the two felonies could result in five to 20 years in prison and fines of up to $15,000.

Redman said he knew Holley from their days working together at Jonesboro Police. He said if he had to pick 100 people he thought may steal, Holley wouldn't be one of them.

Holley resigned from Jonesboro Police to become a state trooper in 2013, Jonesboro police confirmed. He retired from the state police in November 2016, according to minutes from a January 2017 state police commission meeting.