Terry Lee Morrow Jr., a former Kansas City automobile dealer has been charged with stealing the identities of at least 44 people who filled out credit applications at his Missouri dealership to receive car loans.
Once he was able to obtain $1,036,522 in fraudulent car loans, he moved to another dealership in Illinois and proceeded to commit the same type of fraud.
He managed to sell the fraudulent car loans to auto finance companies for more than $470,000 in cash using fake addresses on the loan applications.
Missouri Attorney General Chris Koster believes there are more victims out there. The investigation began last year after a woman discovered a fake car loan on her credit report. By the time the Missouri attorney general’s office got involved, Morrow had set up shop in Cortland, Illinois and created Silver Star Motors.
A break came in the case when an Illinois customer found a fraudulent car loan on his credit report and contacted the police. Authorities were able to arrest Morrow as he was attempting to flee once again.
Morrow, 25, was charged last week with 17 felony counts stemming from $1,036,522 in fraudulent car loans. Koster says additional felony charges are likely to follow.
The fraudulent loans have been removed from victims’ credit reports and Koster commented “the scope of this alleged identity theft scam was enormous, and it is gratifying to hold the perpetrator accountable.”
He also went on to say that “identity theft is one of the fastest-growing scams in the United States, but perpetrators can be elusive and are notoriously difficult to track down.”
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