Former Finance Manager of Used Car Dealership Sentenced to 33 Months in Jail for Defrauding Navy Federal Credit Union

Topics:  Ashley Wynn, Car Store

U.S. Attorney’s Office, Eastern District of Virginia
March 27, 2009

Ashley Wynn, age 28, of Virginia Beach, was sentenced today to 33 months in prison for defrauding Navy Federal Credit Union. Dana Boente, Acting United States Attorney for the Eastern District of Virginia, made the announcement after Wynn was sentenced by United States District Judge Mark S. Davis. Wynn previously pled guilty in federal court on January 26, 2009, to the charge of conspiring to commit credit union fraud.

According to court documents, Wynn formerly worked as the finance manager for the Car Store, a now defunct used car dealership then operating from Lynnhaven Parkway in Virginia Beach. As finance manager, Wynn sought to maximize the used car dealership’s business by regularly obtaining car loans for prospective car buyers from Navy Federal by fraudulent means. To assist buyers with poor credit in obtaining financing, Wynn repeatedly prepared false loan applications and provided Navy Federal with false information and documents concerning a buyer’s income, expenses, employment, and living arrangements. He also manufactured bogus income and employment documents, such as paystubs and wage and earning statements showing inflated income, which were submitted to Navy Federal.

From August 2007 through May 2008, Navy Federal made 61 car loans totaling $1,140,525 that were fraudulently obtained on behalf of persons buying vehicles from the Car Store. To date, Navy Federal and several insurance companies have suffered losses on these loans totaling $565,696.

The Federal Bureau of Investigation and the Virginia Beach Police Department investigated the case. Assistant United States Attorneys Robert J. Krask and James A. Metcalfe prosecuted the case on behalf of the United States.