The Karma Automotive dealership in Jacksonville is under investigation for allegations of fraud and forgery, just 15 months after it opened to sell luxury electric sports cars and sedans. The Jacksonville Sheriff’s Office investigated three customer complaints of title forgery or fraudulent vehicle sales at the dealership and observed five other luxury vehicles being repossessed there on June 5, according to a police report.
The dealership, along with its sister dealership Bul Auto Sales in Albany, New York, has shut down, with their websites stating, ‘We regret to inform you we have ceased operations.’ Police in Albany are also investigating complaints against Bul Auto Sales.
Investigation Details
Jacksonville police investigated three cases involving fraudulent activities at the dealership. A 62-year-old Mandarin man bought a McLaren 720S for $260,000 but never had it registered in his name. He was later told someone wanted to buy his McLaren and agreed to purchase a Rolls-Royce for $300,000, resulting in a total loss of $560,000.
A second case involved a 63-year-old man who had the dealership sell his 1994 Porsche 911. Although he was told it sold for $155,000, police found no record of a new owner. In a third case, a Dallas man bought a Corvette for $235,000 but couldn’t obtain the vehicle even after flying to Jacksonville.
Customer Complaints
New York customer Michael Abatecola ordered a Lamborghini from the dealership for $250,000 but found it had been sold to someone else. He eventually received the car a week ago, but at the expense of the other customer. Abatecola had previously experienced issues with the dealership when the dealer principal, Vladimir ‘Val’ Ranguelov, failed to pay off the remaining loan on his Rolls-Royce.
The dealership’s business license remains active, with Ranguelov listed as the registered agent. Attempts to contact Ranguelov and Karma Automotive’s president, Marques McCammon, were unsuccessful.
