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Sydney car dealer Sid Khoury has been arrested in connection with the collapse of the European Car Specialist in Croydon—and the subsequent disappearance of 180 luxury vehicles.
The fraud is said to be worth some $15 million plus on-road costs.
Police formally charged Mr Khoury on Friday: if convicted, he faces 5 years/100,000 kilometres.
Mr Khoury maintains that the 180 cars vanished due to a “massive ‘09 model runout”.
The disappearance of the vehicles before the arrival of liquidators attests to Mr Khoury’s determination to clear his entire stock of quality new and used vehicles.
According to The Sydney Morning Herald, Police were able to recover a $650,000 Ferrari Scaglietti in Greenacre. There was no evidence the car was involved in the Khoury case: police maintain that, although they have nothing against Greenacre, it was quite obviously stolen, so stop trying to fuck us around.
Angry creditors say they hope the courts lock up Mr Khoury and throw away the keyless entry. Some would like nothing better than for him to turn up dead in an Auto Alley.
Said one, “I guess where he’s going, the only… I’m sorry, I’ve run out car-related puns.”
