Salted with Sharks

Posts Tagged ‘#plattevalleyautosalescase’

First Hearing Set for Platte Valley Auto Sales Case

In Uncategorized on September 10, 2012 at 1:13 pm

By Emily Votruba and Bob Kenison

Judge James Batzer will hold the first hearing in the Platte Valley Auto Sales fraud case (no. 9498) Tuesday, September 11, at 3 pm at the Benzie County Court House.

In the motion, filed August 30 and obtained by the Alert this morning, September 10, the plaintiff is   Honor Bank, and the defendants listed are Platte Valley Auto Sales, Inc.; Platte Valley Enterprises, LLC; Platte Valley Automotive, Inc.; David A. Purchase; Rhonda M. Purchase; Barry N. Wolpoff; and Dealer Services Corporation, “an Indiana foreign corporation.” The plaintiff’s attorney is John M. Grogan of Traverse City.

Honor Bank is seeking a court order to repossess property used as collateral in loans it made to Platte Valley Auto Sales, to prevent that property being damaged or otherwise compromised before final judgement in the case.

The property includes all assets listed in security agreements dating from April 2001, May 2003, and January 2012, such as “floor planned vehicles, equipment, accounts, instruments, documents, title papers and other rights to payment and general intangibles,” according to the hearing motion.

Honor Bank is accusing Platte Valley Auto Sales of “double floor planning” at least 47 vehicles.

Sheriff’s Dept. Investigating Platte Valley Auto Sales Fraud Allegations

In Breaking, Crime, On and off the Apron on September 7, 2012 at 11:33 am

Sheriff Rory Heckman said this morning that the Sheriff’s Department is in the middle of its investigation of alleged fraud perpetrated by Platte Valley Auto Sales owner Dave Purchase and his sister Brenda Purchase.

Asked if any arrests were planned, Heckman said, “We are right in the middle of an investigation right now as we speak. It’s a little premature for me to predict any outcome but I can say that the Sheriff’s Department is investigating.”

According to Heckman, Judge James Batzer issued the order to impound all vehicles on the site: “He issued a restraining order for all property, including the vehicles, to stay on the property and not be removed or tampered with in any way.”

The Sheriff’s department has fielded several calls already from people who have purchased or financed vehicles through Platte Valley Auto Sales or have consigned vehicles for sale there.

Bayshore Tire and Auto: “We’re Not Goin’ Nowhere”

In Uncategorized on September 7, 2012 at 9:54 am

By Emily Votruba

Bayshore Tire and Auto is saddened by but not implicated in the financial scandal at Platte Valley Auto Sales, according to Caitlin Davis, who runs the front desk. Dave Purchase and Steve Hubbard are no longer business partners in the Bayshore shop. Steve is in the process of buying Dave out, and will be sole owner, Davis said in an interview this morning.

The news that broke yesterday of financial misdeeds by Purchase of Platte Valley Auto Sales have shocked the community. Rumors surfaced by word of mouth and on Facebook in the midafternoon. According to Mary Link, a letter written by J. Barry Wolpoff of Platte Valley Automotive, a separate business that rented the sales site to Purchase, was distributed yesterday. This morning the Alert obtained a copy of a letter reportedly from Wolpoff that was posted on Facebook, but at posting time couldn’t confirm that it was the same letter or that it had been written by Wolpoff.

The letter states that Mr. Purchase had been “overflooring” cars for several years: “he would purchase a vehicle for $2,000 but tell the bank he bought it for $4,000.” The letter goes on to state that the fraud involved “at least 3 lending institutions and at least $600,000. Due process will determine what happens next.” The letter states that Wolpoff’s assets and business are now “in jeopardy” because of guarantees Wolpoff signed on Dave’s behalf with lenders, which he did without any knowledge of the fraud being committed.

Davis said Bayshore and Platte Valley Auto Sales are completely separate businesses, with no ties financially and separate accounting and payroll. “When we worked on Platte Valley cars, Platte Valley paid us.”

Bayshore Tire and Auto has developed a reputation for great service and fair prices. And Dave Purchase played a part in that. “I had a leaky head gasket, a repair that could have cost me $700 or so—not the kind of money I had at the time,” said Emily Votruba. “Dave suggested that I just be very vigilant about the coolant warning light and always make sure there was enough coolant and I could skate along for a little while. He could have scared me into making the repair, but he didn’t. He also jump-started my car for me a couple of times in my driveway.”

“We’re just going to run [Bayshore] the way it’s always been run,” said Davis. This writer thinks that’s good news.

UPDATE (11:45 am)

Dustin Wolpoff of Platte Valley Automotive, the service business, has indeed been distributing copies of the same letter quoted above. As of this morning a copy was also attached to the front door of Platte Valley Auto Sales and appeared to have been posted before the Sheriff’s department put up its investigation scene tape.