JupiterSunsation
04-11-2010, 10:55 AM
BARTOW, Fla. — A man who owned two auto dealerships in Lakeland has begun a two-year prison sentence for defrauding customers.
Michael Holley said a bad economy and mounting debt encouraged him to make bad choices.
Holley pleaded no contest to 10 counts of grand theft. He defrauded customers by accepting their trade-ins, then not paying off the balance owed on the vehicles.
Holley owned Chevrolet and Kia dealerships in Lakeland and was known as a generous community benefactor.
Circuit Judge Keith Spoto sentenced him to 10 years in prison, but suspended 8 years.
Holley was also sentenced to 43 years of probation while he repays $166,850 in restitution. If he can pay the money back faster, the probation will be shortened.
Michael Holley said a bad economy and mounting debt encouraged him to make bad choices.
Holley pleaded no contest to 10 counts of grand theft. He defrauded customers by accepting their trade-ins, then not paying off the balance owed on the vehicles.
Holley owned Chevrolet and Kia dealerships in Lakeland and was known as a generous community benefactor.
Circuit Judge Keith Spoto sentenced him to 10 years in prison, but suspended 8 years.
Holley was also sentenced to 43 years of probation while he repays $166,850 in restitution. If he can pay the money back faster, the probation will be shortened.