The set-up of the Veteran started as Mike Komlo (aka Michael Komlo) stated that Komlo, the owner of West Palm Auto Group LLC had plenty of assets. The collateral was allegedly over $1,200,000 of car loans owed to Komlo. The so-called assets were car loans with West Palm Auto Group as the lien holder. Also Komlo showed all the cars at 2720 Okeechobee Blvd, West Palm Beach, FL 33409 as assets. Instead of helping a Vet, this flimflam man, Komlo would end up pulling a fast one on the Veteran. Komlo tried to represent himself as a Patriotic American as he pulled in this Veteran for the con.
Mike Komlo stated that he wanted to expand and open another used car lot. Slimy Komlo said he would get the Veteran to buy some of these used car loans at a discount. Then Komlo would sell the car loans to pay back the Veteran with a profit. That is which ended up as the crooked deal. Komlo was starting the set-up for this con game. Allegedly the Victim would be into the car loan investment for a discount, a much lower price of what the car loan balance was.
Komlo’s con started as he stated the victim would make from an average of 49% to 200% on his money. The truth is that until the Veteran got all of his money back, there was ZERO profit. Realistically, a profit of 15% to 19% would have sufficed however Komlo intended to bankrupt the Veteran.
The Victim was supposed to be protected as his Company would be the lien holder on numerous automobile titles. The scam started immediately as Komlo sold the Veteran a large number of loans which quickly needed to be repossessed. Komlo had the victim turn over the car titles so West Palm Auto Group could repo the cars with bad loans. Komlo stated he would replace the titles with ones which were good, being paid on time. It never happened, as the lies just snowballed with Komlo running around spending the money of the victim.
Komlo tried to present himself as having a background in financing automobiles and stated he was not a used car salesman. The heartbreaking reality was that Komlo also collected the money for the car loans until the loans were sold to large Finance Companies. That money from the car loan payments should have went directly to the Victim.
Exposing the lies, scams and cheating by Komlo were easy to pinpoint. Komlo owed just over $61,000 when he decided his scam worked and he was getting ready to bail. Komlo would take the money from the Victim and use it to pay for his extravagant lifestyle.
Komlo took most of the money and had all of his teeth redone which cost about $40,000. Komlo then used the Veterans’ money to take numerous vacations, make payments on a Cadillac Escalade and a BMW. This con artist took his kids to water parks all over Florida. He then took his Family as well as he stated an underage boy from the neighborhood, to Ohio.
When he got back from that Ohio trip he had used up all the money from the Veteran so he sold all the cars from his West Palm Auto Group LLC lot. Komlo had already lined up a job at a South Florida Car Dealership. Yes the scammers, con artists and crooks usually end up in South Florida.
The Victim was able to get a Judgment (see details below) against West Palm Auto Group LLC after paying attorney fees and court costs. Komlo’s company, West Palm Auto Group LLC still owes over $60,000 as it has been over one year. The Palm Beach County records will reflect the judgment on West Palm Auto Group LLC and Michael Komlo.
The con man currently resides in the Wellington Florida area with the Palm Beach County Zip Code of 33449. It appears this Fraud lives in a home that is over 6000 square feet.
We will update this sad story when we more details on this Michael Komlo character emerge. Brave men and women who have volunteered and served in the American Armed Forces should be appreciated. They should not have to worry about these types of con artists.
Date/Time: 3/2/2015 13:14:53
Against – KOMLO MICHAEL, WEST PALM AUTO GROUP LLC