After misrepresenting funds in order to acquire car titles, a Kissimmee auto dealer faces multiple charges prison sentences.
If convicted, Hani Wafik Kaakati, 43, faces a maximum penalty of 20 years in federal prison on each of 24 counts. The court will also seek of forfeiture of over $443,000 the proceeds of the charged criminal conduct.
According to the Middle District of Florida and the Department of Justice’s indictment, Kaakati, through his car dealership, NextGear Automotive, entered into financing agreement with a victim company back in September 2019. Per the FBI’s investigation, Kaakati misrepresented to the company the availability of funds in NextGear Automotive’s bank account, so that the company would release 24 car titles to him. Kaakati had withdrawn money from that bank account so that there would be insufficient funds to cover the amount owed for the car titles under the financing agreement.
When the company initiated 24 ACH transactions with NextGear Automotive’s bank account, for over half a million dollars, all of themwere 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.
