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Nixa Man Sentenced to 4 Years for $783,000 Fraud Scheme
Chris R. King, 48, was sentenced to four years in federal prison without parole for his role in a $783,000 fraud scheme that targeted unsuspecting car buyers in the Springfield area.
King, formerly the co-owner of Queen City Motors, a used car business in Springfield, used his business as a front to steal customers’ identity information and submit fraudulent loan applications to Credit Acceptance, a company that deals in subprime loans.
Between November 1, 2018, and November 8, 2020, King submitted at least 30 automobile loan applications and received cash deposits of approximately $783,475.
The scheme came to an end when King pleaded guilty to one count of conspiracy to commit wire fraud, one count of wire fraud, and one count of aggravated identity theft on November 20, 2021. King was subsequently sentenced by U.S. Chief District Judge Beth Phillips.
As part of his sentence, King was ordered to pay $646,597 in restitution to his victims and to forfeit the same amount to the government. The case was prosecuted by Assistant U.S. Attorney Patrick Carney and investigated by the U.S. Secret Service and the Springfield Police Department.
King’s actions had a significant impact on the victims, who were left to deal with the consequences of the fraudulent loans. The sentence handed down by Judge Phillips is a reminder that those who engage in such schemes will be held accountable for their actions.
The U.S. Attorney’s Office praised the work of the investigators and prosecutors who brought this case to a successful conclusion. The case serves as a reminder of the importance of protecting consumers from fraud and ensuring that those who engage in such activities are held accountable.
Key Facts
- State: Missouri
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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