NEWHALL, Iowa (KCRG) – An Eastern Iowa car dealership’s future is in question as it is accused of a $12 million fraud scheme and may have much of its inventory seized.
Stellantis Financial Services made the allegations in a lawsuit filed this week against Sky Auto Mall, which has locations in Newhall and Center Point, and its owners, Igor, Yelena and Alex Tovstanovsky. Stellantis Financial is the lending arm of the automaker Stellantis, which makes several vehicle brands, including Chrysler, Jeep and Fiat.
According to the lawsuit, Stellantis had loaned Sky Auto Mall money to purchase vehicles for inventory. Stellantis claims the dealer then took out similar loans through other lenders, including Ford Motor Company, on the same vehicles and transferred the vehicles between its locations to hide the duplicate loans.
“…by doing so each lender would fund the purchase of these vehicles…
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