[masher44]

Anyone have any experience with Bellagio Motors?

My buddy here in OK bought a Lambo through him on consignment (contract date 1/3/12) and sent in a $30,000 deposit to secure the car. Bellagio literally goes out of business the next day due to "death threats", according to the owner, Fred Ebadat.

My buddy contacts the owner of the Lambo and tells him to go down and get his two vehicles because of the fact he went out of business. The owner of the Lambo gets his vehicle and my buddy wants to still buy the car but we sit here over two weeks of promises from Fred to wire the money to my buddy here in Oklahoma.

So my buddy has no car and no $30,000. Sound like the typical "high performance car/boat criminal shuffle.

Anyone here know Fred? or been by the dealership lately? My friend is 2000 miles away. He is not a member on Fchat but will join here shortly.

I know things take time but two weeks to get a wire is a joke and just should not exist in this industry. My friend has spoken to Fred's attorney and he wasnt not aware of my friends case. My friend has hired an attorney and just wants his $30,000 back instead of going through all of this crap.

Fred has been promising the money returned to no avail. According to my friend doing some digging, he is one of many that are affected by this criminal. People should be aware in acse he is trying to do some desperate stuff, one step ahead of the sheriff.

Thank you for any information.

Jim

[Brian]

Get in touch with California DMV. They regulate car dealers and they sometimes use CHP for enforcement. Might call them too.

[wetpet]

pretty sure used car dealers have to have a bond. They do in md. Pretty sure your boy is gonna have a tough time getting it from old fred. best to go through the regulatory agency in his state and have his attorney send a demand letter to fred's attorney. Gonna cost him a few hundred but it's the first step.

seems like he started the biz about 3 years ago. end of 2008 was either a ballsy move or really bad timing...

just out of curiosity, why such a huge deposit? I don't think i have ever put down more than 5k.

[masher44]

Thank you. I agree the deposit is high but it is not my purchase.

Thank you for the info and assistance.

[champagne612]

I had a similar experience with the only high end dealer in Boca.

A friend checked the car out and knew the owners from past transactions.

The owners father also had dealerships one being Ford - 15 years in business so I felt comfortable.

Wired the entire amount for the 612 - next day closed!

Took me two weeks to get the car and another four weeks to get the title.

What saved me is the bank closed them and held title to the 612 and I wired it to the bank as the lien holder.

My thought was whomever is holding title is where you send the money.

Anyone representing themselves as the title holder and was not is in a heap of trouble.

[masher44]

Originally Posted by champagne612

I had a similar experience with the only high end dealer in Boca.

A friend checked the car out and knew the owners from past transactions.

The owners father also had dealerships one being Ford - 15 years in business so I felt comfortable.

Wired the entire amount for the 612 - next day closed!

Took me two weeks to get the car and another four weeks to get the title.

What saved me is the bank closed them and held title to the 612 and I wired it to the bank as the lien holder.

My thought was whomever is holding title is where you send the money.

Anyone representing themselves as the title holder and was not is in a heap of trouble.

Yes this guy is. According to sources, he has been stockpiling deposits other money. We have been in contact with his family members and they have written him off as a coward and a crook. My buddy is lawyering up but it is always fun for me to mess with a coward as much as possible. We are emailing every business within 100 miles of his company so hopefully they will stop in and say hi to fast Freddie.