Oklahoma Teen Allegedly Defrauded a Car Dealership Out of Almost $100,000

by Chris Teague

Published: August 29th, 2023

oklahoma teen allegedly defrauded a car dealership out of almost 100 000

Though car dealerships often get the short straw when it comes to customer trust, most are legitimate businesses that aren’t out to rip off unsuspecting customers. An Oklahoma teen recently flipped the script on that narrative and is accused of defrauding an Oklahoma City dealer out of almost $100,000.

Zachry Brent Bailey, 19 years old, allegedly made transfers on two auto loan accounts to make it seem like he owed much less on the loans than he really did. In mid-April, Bailey approached the dealership with an Acura MDX, and when the store ran the numbers, it found that he only owed $1,713.23. They appraised the SUV at $48,000 and cut a $46,272.97 check for the difference. A couple of weeks later, he returned to the dealership to sell a 2023 Toyota Tundra, and the dealer again found that he owed a tiny amount on the loan, just $2,244. The truck netted Bailey a check for $64,256.

Bailey’s scam involved fraudulent transfers that reduced the loans’ payoff amount. A few days later, the transfers reversed, and the loans returned to their full glory. Lenders won’t release a title until the lien is paid in full, so the dealer was left with two piles of debt to deal with.

If you’re going to run a six-figure scam on a business with meticulous records like a car dealership, it’s a bad idea to use your real name, and it’s even stupider that Bailey chose cars as his weapon of choice. The mountains of paperwork and documentation that change hands when a car is sold make it awfully hard to pull a fast one, especially with a car dealership as the mark.

Bailey’s facing felony charges for this crime, but he’s got a lot more going on than scamming car dealers. Police said he could have been impersonating a police officer, and he was on the radars of officials in other states for impersonating a doctor.

[Image: University of College via Shutterstock]

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Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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3 of 20 comments

Wjtinfwb on Aug 29, 2023

And they say our kids aren't getting an education in schools these days...

Like Reply
David S. on Aug 30, 2023

Can you say "Frank Abagnale"?

Like Reply
- 3SpeedAutomatic on Aug 31, 2023
  
  You beat me to the punch....I was thinking of the movie "Catch Me if You Can".
  
  Like

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