Excell Auto Group, a luxury car dealership in Boca Raton, Florida, faces lawsuits for allegedly engaging in a multi-million dollar fraud.
The latest lawsuit filed by Prestige Luxury Cars in Palm Beach County Circuit Court claimed that Excell did not repay the money Prestige provided as cars were sold, Boca News Now reported.
According to the lawsuit, Prestige provided $1.3 million to Excell as a part of a joint venture to secure exotic cars and Excell owners Scott and Kristen Zankl were to immediately repay the money as cars were sold.
The suit claimed that when Prestige demanded payment, Excell provided a $400,000 check and a $120,000 check — both of which were returned for insufficient funds.
The suit further claimed that Excell moved the cars from its Boca Raton showroom to its “Karma” showroom in Fort Lauderdale, a company also owned by the Zankls.
“Excell, Scott and Kirsten Zankl took this action with intent to defraud Prestige to hinder Prestige’s rights as a credit and security interest holder of these assets,” attorneys for Prestige said.
The lawsuit came days after Excell’s landlord in 1001 Clint Moore Road in Boca Raton, Moshe Farache and his wife Lisa, sued Excell for selling cars “out of trust,” Boca News Now and Sun Sentinel reported.
According to the lawsuit, Excell took loans for vehicles but did not repay the loans when the cars were sold.
Scott said the allegations were made-up and that his attorneys were preparing to file a lawsuit.
Scott also told Boca News Now that the landlord illegally took the vehicles in the Boca Raton showroom.
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