A federal grand jury in Oklahoma City has handed down a 10-count indictment against the former owner of shuttered Richardson Suzuki car dealership in Oklahoma City and the owner of a now-closed Norman title company on charges of bank fraud, false statements to a financial institution and mail fraud.
The indictment claims Anthony E. Aguilar, owner of the former Richardson Suzuki car dealership at Interstate 240 and Western, and Brenda K. Wyatt, founder of Alliance Title Services, conspired to commit bank fraud in 2008 when they submitted a loan application for a $5.5 million loan that overstated their assets and understated their other debts.
Aguilar and Wyatt also took out a $750,000 line of credit to finance cars for the Richardson Suzuki dealership from another bank. Although the line of credit required them to repay the bank after each vehicle was sold, the bank discovered Aguilar had sold several vehicles out of trust.
The mail fraud charges stem from an alleged scheme to take money from Alliance Title Services escrow account required to hold funds from home buyers using financing backed by the U.S. Department of Housing and Urban Development.
The indictment claims Aguilar and Wyatt embezzled money from the Alliance Title Services escrow account and then Wyatt allegedly mailed false statements showing payments that had never been made with the escrow funds.
Aguilar and Wyatt also are accused of having mailed payoff checks from the escrow account that later bounced because of insufficient funds, which they blamed on employee theft or bank errors, the indictment states.
Aguilar and Wyatt allegedly misappropriated $1.3 million in escrow money, according to the charges.
Attempts to reach Aguilar and Wyatt were unsuccessful.
Both face more than 30 years in federal prison if convicted. Alliance Title Services closed in 2009 and Richardson Suzuki has also been closed since at least 2010.