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Lake County Man Charged with Organized Fraud and Aggravated White Colar Crime

6/24/2004

CONTACT: Lisa Lagergren, FDLE
(850) 595-2100

LEESBURG--After an extensive yearlong investigation, the Florida Department of Law Enforcement along with the State Attorney's Office, First Judicial Circuit, Department of Financial Services, Fraud Division and Bureau of Financial Regulations charged Robert Ray Terry, Jr. of Leesburg, Fla. with organized fraud, theft and aggravated white-collar crime. Investigators identified more than 200 victims in Florida who lost more than $500,000.

There were 40 different consumers that were identified during the investigation that disclosed that Terry was engaged in an on-going scheme to defraud the consumers of his business, Terry Motors, Inc. (TMI). The scheme included theft of funds intended to pay off prior liens (approximately $345,551.43) on cars sold or traded in by the consumers. This left the consumers responsible for the liens and unable to secure tags and titles on the purchased vehicles. This fraud occurred during "tent sales" that were being held across the state.

The remaining 161 consumers were similarly victimized through Terry's failure to pay off liens on trade-in vehicles. These victims paid Terry money for title transfer fees, GAP policies, and extended warranties. In many cases TMI failed to complete the work.

Assistant Gerry Champagne with the First Judicial Circuit in conjunction with the Statewide Prosecutor's Office will be handling the prosecution of this case.