A salesman at a Pompano Beach Porsche dealership ran his own fraudulent shadow business that involved selling 911 Carreras that didn’t exist, according to a federal court guilty plea.
Plantation resident Shiraaz Sookralli snookered $3 million from customers at Champion Porsche, kept all the money from another Porsche sale he sold for another party on consignment and used a shell company to embezzle money from Champion Porsche. Sookralli, 45, admitted all this in pleading guilty to conspiracy to commit wire fraud and mail fraud.
He’ll be sentenced by U.S. District Judge Rodney Smith on Nov. 14.
Sookralli began working at Champion Porsche in September 2009, but it wasn’t until 2014 that he set up shell company Color Pro Motorsport, through which he embezzled money from Champion Porsche for two years. Then, in May 2017, the salesman of high-end sports cars decided to supplement his income by selling high end sports cars that didn’t exist.
Champion Porsche’s Vice President of Marketing “sold” customers “non-existent future exotic Porsche models,” the Justice Department said. “The majority of the vehicles were rare, highly sought-after, Carrera 911 models.”
Customers from around the country wired transfers (wire fraud), sent bank checks (mail fraud) or showed up with cash deposits to put down on their Porsches-to-be.
Sookralli also kept up the ruse with false purchase orders on Champion Porsche forms and faux build sheets showing the fictional custom Porsche’s specifications.
He did this well enough from May 2017 through July 2018, his admission of facts says, to get $3 million. The money went into the bank account for another Sookralli shell company.