Stowe resident accused of multi-million dollar auto loan fraud
ST. ALBANS – A man who was living in Vermont as a car salesman, evading a Michigan arrest warrant on 21 charges related to auto loan fraud, was taken into custody late on Tuesday after returning from a Father’s Day trip to Montreal, according to court documents and testimony from his wife.
William Walter McKibbin III appeared in court Wednesday and will likely be extradited to Michigan, where he faces up to 120 years in prison for charges dating back to 2014.
He is accused of running companies that sold over $20 million worth of auto loans, some of which charged more than 200% interest, well over the legal limit. In Michigan alone, McKibbin was part of companies that sold fraudulent auto loans totaling more than $285,000, according to a Vermont State Police statement.
At Wednesday’s hearing at the The Franklin County criminal court, Judge. A. Gregory Rainville decided that the Michigan arrest warrant against McKibbin did not have enough information to determine whether McKibbin “probably committed the crime” — a requirement under Vermont law when considering extradition requests.
Read more: https://vtdigger.org/2019/06/19/stowe-resident-accused-of-multi-million-dollar-auto-loan-fraud/