Car theft fronted by phoney rental firm - Car Rental News
Car theft fronted by phoney rental firm
Car Rental News - 05/01/2009
Thieves rented cars from owners and then illegally sold them off after paying only the first instalment.
In all, at least 23 cars in Malaysia, having a total value of RM1.44 million, were included in the scam.
State police caught up with and arrested the two men involved in the operation on 30 and 31 December.
The first to be arrested was a 25-year-old man, who was detained at his home in Johor. His 26-year-old accomplice was arrested on the following day at his home in Kelantan.
The police seized as many as 300 folders that were said to contain documents related to the ‘rental’ vehicles.
Datuk Jalaluddin Abdul Rahman, the state’s deputy police chief, said that the men had set up a company in May, called Carador ATM Transport Services, in Kuala Terengganu. In their scam, they offered car owners to rent their vehicles, paying them a monthly fee of RM1,200 to RM2,000.
Once they got hold of the cars, they then sold them, illegally, to buyers for as much as RM6,000 each.
"They tell the potential buyers that the owners are facing financial difficulties and are looking for someone to continue paying the loan," the deputy police chief said.
He added that the actual owners of the cars only lodged complaints when their second monthly instalments were not paid.