A Harrison businessman is facing charges of selling two cars he used as collateral for a loan.
According to court documents, 29-year-old James Carrett Hoffman is accused of taking out two loans under two different business names using a 2015 Lamborghini and a 2015 Mercedes Benz as collateral. The court documents indicate that Hoffman had sold the vehicles to owners out of state and no payments had been made on the loan,
A bank official approached the Harrison Police Department about the loans which led to the investigation and Hoffman’s arrest.
Hoffman is facing two counts of defrauding a secured creditor and one count of theft of property. He is free after posting $10,000 bond and is scheduled to appear in Boone County Circuit Court on January 26.
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