Politics & Government
LITH Man to be Sentenced in Car Fraud Scheme
Scheme cost customers and lenders $2.25 million
Convicted of a scheme that left customers and lending institutions out $2.25 million, former president of Clover Financial Sales and Leasing Inc. Glenn Stancil will be sentenced in federal court on April 29.
Stancil, 39, of Lake in the Hills was found guilty by a federal jury on 11 counts of mail and wire fraud last month. Stancil faces a maximum penalty of 20 years and $250,000 on each count of the counts.
Stancil ran a scheme with the former owner of the Roselle Dealership Patrick McManamon of Elk Grove Village where they convinced customers to leave their cars with them, promising to pay off their leases early, said Assistant U.S. Attorney Barry Jonas.
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"Their niche was 'we can get you out of your lease early (with no penalty fees),’’’ Jonas said. "They (customers) would leave the car thinking they were done with it. They would take these cars from the customers and never pay off the (loans or) leases.’’
In charge of used car sales, Stancil would then sell the cars to other customers, claiming Clover had titles to them, Jonas said. In some instances Stancil and McManamon made a few months of payments on cars so customers would not get suspicious right away, Jonas said.
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Customers essentially bought cars that didn’t belong to them, Jonas said.
Between March 2005 and December 2006, Stancil, McManamon and employee Pamela Mendyk, 36, of Lake in the Hills, caused 127 cars to be transferred to Clover under false pretenses and failed to pay off the loans and leases at a cost of $2.25 million to customers and lenders.
Mendyk, who worked in Clover’s finance department, served as a government witness in Stancil’s trial and filed a pre-trial diversion with fraud charges against her expected to be dismissed after a year.
McManamon pleaded guilty to all 11 counts and will be sentenced on March 18. The government is seeking forfeiture of $2.25 million from Stancil and McManamon. According to federal law, restitution can be up to twice the gain or twice the loss, Jonas said.
The Illinois Secretary of State Police and the Illinois Attorney General’s Office assisted in the investigation. Clover closed for business in March of 2007.
