Adrian Knight, Mail, Bank, & Wire Fraud, Virginia 2023

NORFOLK, Va. – Adrian Knight, a 41-year-old Virginia Beach man, was sentenced to six years in prison for conspiracy to commit mail, bank, and wire fraud; wire fraud; and bank fraud, according to a recent court decision.

According to court documents, Knight, who owned Ace Auto Sales, LLC in Chesapeake, engaged in a fraud conspiracy from March 2019 to January 2023. During this period, Knight and his co-conspirators listed Ace as the seller of automobiles in buyers’ agreements or buyers’ orders that accompanied fraudulent loan applications to various financial institutions for automobiles that were not in Ace’s inventory.

Knight, who led the operation, recruited the co-conspirators and provided them with false information, such as altered vehicle identification numbers and false income and employment data, to obtain the loans. After the financial institutions provided loan funds to Knight and others, Knight would retain a portion of the proceeds and share the remainder with his co-conspirators.

The conspirators would then default on the loan or claim the loan was filed through identity theft, and the banks or their insurers were left with the loss. No automobiles were purchased with these loan proceeds, resulting in the victimization of two dozen financial institutions and over $2 million in fraud loss.

“Adrian Knight conspired to profit from exploiting financial institutions that serve honest consumers,” said Lindsey Halligan, U.S. Attorney for the Eastern District of Virginia. “These schemes undermine legitimate lending and drive up costs for borrowers. We will continue to ensure that markets remain fair, transparent, and trustworthy, and that those who manipulate the system for personal gain are brought to justice.”

Assistant U.S. Attorney Clayton D. LaForge prosecuted the case. The U.S. Attorney’s Office for the Eastern District of Virginia released a statement regarding the case, which can be found on their website along with related court documents and information.

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