Bank Fraud Conspiracy Lands Tampa Man in Prison

Tampa, FL – In a shocking turn of events, 50-year-old Guerryson Torres has been sentenced to 33 months in federal prison for his role in a brazen bank fraud conspiracy that left victims reeling.

According to court documents, Torres, the owner and operator of Tampa Bay Auto Remarketing (TBAR), conspired with others to defraud GTE Federal Credit Union and Grow Financial Credit Union between June 2008 and August 2009. Torres’s company had contracted to sell cars and boats that had been repossessed by the credit unions.

Under the agreement, TBAR was supposed to send the money from the sale of the vehicle, less an agreed-upon fee, to the financial institutions. However, for about 40% of the sales, Torres and his co-conspirators prepared and sent the credit unions false invoices that underreported the sales price of each vehicle, thereby stealing the difference between the underreported sales price and the actual sales price.

But that wasn’t the only trick up Torres’s sleeve. With respect to 77 of the cars sold for GTE, Torres and TBAR simply pocketed the entire sales amount of the vehicles, and never paid GTE at all. The total amount stolen from the credit unions was a staggering $993,828.75, with victims left owing a total of $973,486.69 in restitution.

Torres pleaded guilty to the charges on March 28, 2014, and today’s sentencing marks the end of a long and winding road for the defendant. The case was investigated by the Federal Bureau of Investigation, with Assistant United States Attorney Mark E. Bini leading the prosecution.

The sentence sends a clear message to those who would seek to defraud innocent victims: you will be caught, and you will face the consequences. The people of Tampa can rest a little easier knowing that justice has been served in this case.

Torres’s prison sentence is a reminder that bank fraud is a serious crime that will not be tolerated. The Grimy Times will continue to follow this story and bring you updates as more information becomes available.

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