DealershipForum.com - View Single Post - IRS Agents raid Luxor Auto Group and arrest three for money laundering

XDCX · 04-25-2014, 10:44 AM

News reports indicate that IRS Agents raided Luxor Auto Group in Scottsdale, AZ last week and arrested three individuals and charged them with money laundering. For the full report - click here

Luxor Auto Group has two dealerships in the Phoenix area that typically sell higher-end European used cars.

According to the report, undercover IRS agents first contacted the dealership and arranged to purchase a vehicle for $10,000 in cash and requested that the transaction not be reported. After the first transaction was successful the agents made arrangements to purchase a second vehicle for $80,000 in cash and left a $20,000 deposit of cash left in a Crown Royal bag.

According to the charges, the dealership advised the IRS agents that the second vehicle should be titled in another person's name. The dealership completed the transaction on the second vehicle when they received the remaining $60,000 in cash. (Another report indicated that the dealership made a bank deposit of almost $60,000 in cash on the same day.)

After the second transaction was successful, IRS agents returned to purchase a third vehicle for $200,000 and this is when the raid took place.

Ironically, according to the charges, the undercover IRS agents noticed a jewelry display case in the dealership and were advised that the owner of the jewelry store would also do cash transactions without filling out the required documents. The IRS agents made a cash transaction with the jewelry store and have arrested an individual as a result of that transaction.

04-25-2014, 10:44 AM	#1
XDCX Administrator Join Date: Nov 2007 Posts: 14,869	IRS Agents raid Luxor Auto Group and arrest three for money laundering News reports indicate that IRS Agents raided Luxor Auto Group in Scottsdale, AZ last week and arrested three individuals and charged them with money laundering. For the full report - click here Luxor Auto Group has two dealerships in the Phoenix area that typically sell higher-end European used cars. According to the report, undercover IRS agents first contacted the dealership and arranged to purchase a vehicle for $10,000 in cash and requested that the transaction not be reported. After the first transaction was successful the agents made arrangements to purchase a second vehicle for $80,000 in cash and left a $20,000 deposit of cash left in a Crown Royal bag. According to the charges, the dealership advised the IRS agents that the second vehicle should be titled in another person's name. The dealership completed the transaction on the second vehicle when they received the remaining $60,000 in cash. (Another report indicated that the dealership made a bank deposit of almost $60,000 in cash on the same day.) After the second transaction was successful, IRS agents returned to purchase a third vehicle for $200,000 and this is when the raid took place. Ironically, according to the charges, the undercover IRS agents noticed a jewelry display case in the dealership and were advised that the owner of the jewelry store would also do cash transactions without filling out the required documents. The IRS agents made a cash transaction with the jewelry store and have arrested an individual as a result of that transaction.