ORLANDO, Fla.—A Kissimmee auto dealer was charged last week with multiple counts of wire fraud, according to the U.S. Attorney’s Office for the Middle District of Florida.
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On Thursday, United States Attorney Roger B. Handberg announced the return of an indictment charging Hani Wafik Kaakati, 43, with 24 counts of wire fraud. Mr Kaakati faces a maximum penalty of 20 years in federal prison on each count if convicted.
The indictment also notifies Mr Kaakati that the United States is seeking an order of forfeiture for the proceeds of the alleged criminal conduct, said to be at least $443,137.98.
According to the indictment, Kaakati, through his car dealership, NextGear Automotive, entered into a floorplan financing agreement with victim Company 1. In September 2019, Mr Kaakati reportedly misrepresented to Company 1 the availability of funds in NextGear Automotive’s bank account so that Company 1 would release 24 car titles to him.
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According to the indictment, Kaakati had withdrawn money from that bank account so that there would be insufficient funds to cover the amount owed to Company 1 for the car titles under the floorplan financing agreement. As a result, Company 1 initiated 24 ACH transactions with NextGear Automotive’s bank account in the total amount of $528,337.98, all of which were reportedly returned for insufficient funds.
An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law. Every defendant is presumed innocent unless and until proven guilty.
This case was investigated by the Federal Bureau of Investigation and the Seminole County Sheriff’s Office. It will be prosecuted by Assistant United States Attorney Risha Asokan.
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