An Illinois man pleaded guilty Thursday to a years-long fraud conspiracy to reverse the odometer readings on hundreds of used cars.
According to court documents, Laith Ghzo, 37, of Oak Lawn, admitted that he purchased high-mileage vehicles at auto auctions and rolled their odometers back to false, lower mileage readings.
Ghzo also admitted that he then altered the rolled-back vehicles’ title paperwork to match the false and lower mileage readings and subsequently submitted those altered titles to the Illinois Secretary of State to obtain “clean” titles reflecting the false, lower mileage.
Read: Border Officers In Texas Seize $847K Of Meth In Jars Of Lard
With the false and lower-mileage titles, Ghzo sold the vehicles to other unsuspecting car dealers, who then sold them to unsuspecting consumers.
“According to the National Highway Traffic Administration, odometer fraud causes more than $1 billion per year in losses to consumers,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “Odometer fraud is a crime that predominately affects the economically vulnerable, who are simply looking for transportation to work or to school but who cannot afford to purchase a new car. We thank our partners for bringing this matter to our attention.”
Ghzo pleaded guilty to conspiracy to commit securities fraud. He is scheduled to be sentenced on Oct. 1 and faces a maximum penalty of five years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Read: Texas Man Threw Girlfriend From Apartment Balcony Then Broke Her Neck With A Recliner
The National Highway Traffic Safety Administration’s Office of Odometer Fraud Investigation and U.S. Postal Inspection Service are investigating the case.
Help support the Tampa Free Press by making any small donation by clicking here.
Android Users, Click To Download The Tampa Free Press App And Never Miss A Story. Follow Us On Facebook and Twitter. Sign up for our free newsletter.