Park Place Motorcars Says Preston Hollow Man, Business Partners Stole Dozens of Luxury Cars

Categories: Crime

Ferrari458Italia.jpg
IFCAR
A Ferrari 458 Italia, which, according to bankruptcy records, Jeremy Wiggains no longer drives.
The IRS still hasn't said why federal agents raided the Preston Hollow home of Straight Line Automotive Group founder Jeremy Wiggains in August, ultimately leaving the $3.3-million McMansion toting several boxes of documents. Pretty much all that could be gleaned at the time came from the bankruptcy filing he'd made the previous week, which claimed $50 million in debt to $1 million in assets and listed as creditors former Cowboy Martellus Bennett and current Cowboy Orlando Scandrick.

The Park Place family of car dealerships is more forthcoming about Wiggains' alleged misdeeds. In a lawsuit contesting the bankruptcy filing, the company says Wiggains was part of a conspiracy that siphoned off millions of dollars in cash and dozens of high-end cars from the local luxury-car empire.

According to the suit, Wiggains and his brother, Justin, did business frequently with a luxury-car wholesaler named Greg Duncan, who had been working with Park Place for two decades, buying some cars for the Park Place inventory while selling others for the company on commission.

See also: A Fort Worth Insurance Salesman Stole a $1 Million Settlement from a Widowed Mother of Three, Prosecutors Say

The heart of the alleged scheme originated as a shell game. In order to avoid having Park Place dock his commission by $500 per car if they sat in his warehouse for more than 30 days, Duncan would pass them off to the Wiggains brothers to pretend to make a purchase.

On paper, this made Duncan look like a star, and he got full commission for the 40 cars he sold to the Wiggains. Yet when Park Place got around to collecting the money from the purchase, the money was nowhere to be found. Neither were the cars, which Park Place alleges were sold by the Wiggains to line their and Duncan's pockets.

The lawsuit doesn't specify what cars they stole, but the Park Place inventory is rather narrow, boasting Porsche, Mercedes, Lexus, Lotus and Volvo. Two of the vehicles came from Park Place's premiere collection, which includes Bentley, Rolls-Royce, McLaren, Maserati and Jaguar.

The partnership was a two-way street. Duncan also bought cars from the Wiggains brothers for Park Place's inventory using Park Place money. In 44 cases, the lawsuit says, those checks were cashed but the vehicles they were for never arrived.

In court filings, Duncan and the Wiggains deny the accusations. Wiggains' bankruptcy case is ongoing. His most recent schedule of assets suggests he has parted ways with his 2012 Ferrari 458 Italia, valued at $240,000.


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24 comments
manwomancar
manwomancar

Wow. Cracking down is so essential. Glad they figured out what was going on with the car dealership before it got worse.  

www.manwomancar.com

lzippitydoo
lzippitydoo

If that happens to a repuatable dealership - think about the rif raf going on down at the Nicholson "tote the note"lot! While these guys are crooks and it was an inside job - the internal controls were not in place and the dealership takes some blame!

IgnatiusJ
IgnatiusJ

BTW- I think that photo is the 'Science Church' of HP, not that a thumbnail for a story matters...

IgnatiusJ
IgnatiusJ

Nobody is thinking about the cars.  It's always the cars who suffer in situations like this.

oakclifftownie
oakclifftownie

Wasn't there another MOTOR CAR Company in that area that had questionable business practices  as well  ?

Steve
Steve

Straight LINE Automotive, not Lane.  Christ.

oakclifftownie
oakclifftownie

I know its not polite to Blame the Victim but How stupid is this bunch ?

LeroyJenkem
LeroyJenkem

Sigh. All Wiggans had to say was "We have an UNDERSTANDING," and all should have been dropped. In Highland Park, that phrase is even better than cash, at least as far as paying bills to us little people is concerned.

gavin.cleaver
gavin.cleaver moderator

@Steve I fixed it Steve. Calm down. It's not good for your blood pressure.

Daniel
Daniel

@LakewoodGuy Also, a $3.3 million property is not a "McMansion," but, rather, an actual mansion. 

ScottsMerkin
ScottsMerkin topcommenter

@gavin.cleaver neither are Watfod FC matches this season.  Sheesh, Ive been following gameday live tweets now

ROFLCopter
ROFLCopter

@Daniel @LakewoodGuy In that part of town, 3.3 million is kind of embarrassing.

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