- Bul Auto Sales was reportedly selling the same vehicle more than once and didn’t pay off loans.
- A Dallas man paid $235,000 for a Corvette, only to later find out the Sheriff’s Office had seized it.
- One victim believes dealership owner Vladimir Ranguelov may have fled the country.
Car dealership aren’t always a paragons of transparency, but every now and then one goes above and beyond in all the worst ways. That appears to be the case in Jacksonville, Florida, where the owner of a Karma Automotive dealership known as Bul Auto Sales is under investigation for fraud and forgery after allegedly leaving customers short hundreds of thousands of dollars.
This comes just 15 months after opening its doors and only weeks after quietly closing them without warning.
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So, what exactly is going on? According to the authorities, the owner of the dealership, Vladimir Ranguelov, who also operated a site in Albany, New York, is alleged to have sold multiple vehicles more than once. In one case, a customer at the Florida site paid $250,000 for a Lamborghini, only to soon find out it had also been sold to someone else. Only one of the men ended up receiving the car, while the other is on the hook for $250,000.
Duplicate Sales, Missing Titles
In another reported case, a 62-year-old man sent a $260,000 wire transfer to the dealership to purchase a McLaren 720S. He drove it for three months only to find out it had never been registered in his name. The dealer reached out to him, claiming they had someone interested in buying the 720S. Assuming his supercar had been sold, the man agreed to buy a $300,000 Rolls-Royce from Bul Auto Sales, Jax Today reports. Now, he’s out for $560,000.
Meanwhile, a man from Dallas paid $235,000 for a Corvette, but after flying to Jacksonville to pick it up, it was nowhere to be found; it had been seized by the Sheriff’s Office. A separate report says a 63-year-old organized for the dealer to sell his 1994 Porsche 911. He was told it had sold for $155,000, but local police have not been able to find any record of a new owner.
According to News4Jax, the dealership recently shut its operations without prior notice. It’s also alleged that some vehicles were sold without paying off existing liens, which may explain why titles weren’t transferred and buyers never received their cars.
Karma Automotive says it has since suspended its relationship with Bul Auto Sales as investigations continue in both Jacksonville and Albany. One alleged victim told reporters he’s concerned Ranguelov may have already left the country.
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