Hani Wafik Kaakati, Wire Fraud, Florida 2024

Wire Fraud Rocks Florida Auto Scene: 24 Counts of Deceit

Orlando, Florida – In a shocking turn of events, United States Attorney Roger B. Handberg announced the return of an indictment charging Hani Wafik Kaakati (43, Kissimmee) with 24 counts of wire fraud. The indictment, which has sent shockwaves through the Florida auto community, carries a maximum penalty of 20 years in federal prison on each count.

The indictment also notifies Kaakati that the United States is seeking an order of forfeiture in the amount of at least $443,137.98, the proceeds of the charged criminal conduct.

According to the indictment, Kaakati, through his car dealership, NextGear Automotive, entered into a floorplan financing agreement with victim Company 1. In September 2019, Kaakati misrepresented to Company 1 the availability of funds in NextGear Automotive’s bank account, so that Company 1 would release 24 car titles to him.

In fact, Kaakati had withdrawn money from that bank account so that there would be insufficient funds to cover the amount owed to Company 1 for the car titles under the floorplan financing agreement. As a result, Company 1 initiated 24 ACH transactions with NextGear Automotive’s bank account in the total amount of $528,337.98, all of which were returned for insufficient funds.

An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

The case was investigated by the Federal Bureau of Investigation and the Seminole County Sheriff’s Office. It will be prosecuted by Assistant United States Attorney Risha Asokan.

NextGear Automotive’s shady dealings have left a trail of financial devastation in its wake, with Company 1 facing significant financial losses. The indictment serves as a stark reminder of the severity of wire fraud and the importance of accountability in the business world.

As the investigation continues, one thing is clear: Hani Wafik Kaakati’s actions have serious consequences, and the victims of his deceit will not be forgotten.

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