SANTA ANA, Calif. (AP) — A former Orange County car dealer has been charged with embezzling more than $3 million from people buying or selling Ferraris, Lamborghinis and other luxury cars.
Farhad Ebadat of Huntington Beach was arrested last week and is charged with 41 counts of embezzlement, grand theft and money laundering.
He remains jailed without bail and could face nearly 35 years in prison if convicted.
Ebadat owned Costa Mesa Bellagio Motors before abruptly closing it this year.
Prosecutors claim he sold luxury cars on consignment from their owners and diverted the payments to his personal accounts. He's also accused of defrauding the car buyers, who couldn't get legal title because the owners holding those titles hadn't been paid.
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