California Attorney General Rob Bonta announced on Wednesday that two individuals have been charged in a multi-million dollar embezzlement and tax fraud scheme in San Bernardino County. The scheme involved Clayton Thom, the owner of CNC Motors Inc. and Lotus of Upland, LLC., who allegedly stole over $4 million from 35 victims. Thom’s business manager, Valerie Tanaka, was also charged in the scheme.
The charges against Thom and Tanaka include 13 counts of tax fraud, in which they are accused of defrauding the state of over $4 million in taxes. Thom faces additional charges of 37 counts of grand theft and one count of elder theft. The Department of Justice stated that Thom ran the embezzlement scheme from 2018 to 2021 by deceiving customers at his dealership in Upland.
According to the Department of Justice, Thom convinced victims to place high-value vehicles on consignment at his dealership, often persuading them to leave their titles there. Victims signed contracts that promised payment within 20 days of their vehicle’s sale. However, after selling the vehicles and collecting the proceeds, Thom failed to pay the victims. He also used some of the consigned vehicles to settle his debts and obtain loans. Additionally, Thom allegedly prevented customers who purchased consigned vehicles from obtaining legal ownership by withholding or providing forged certificates of ownership and registration.
The embezzlement scheme came to light after Youtuber Daniel Hurlbert’s channel, Normal Guy Supercar, featured a video playlist where subscribers shared their experiences with CNC Motors. The Department of Motor Vehicles investigated complaints against the dealership.
Clayton Thom and Valerie Tanaka were arraigned on Tuesday at San Bernardino County Superior Court. Thom, 50, remains in custody at the San Bernardino County Sheriff’s Department’s West Valley Detention Center with bail set at $8.7 million. Tanaka, 61, was released the day after her arrest. No court date has been scheduled for her.
California Attorney General Rob Bonta emphasized that his office is dedicated to protecting consumers from financial crimes, stating that fraud against Californians and the state will not be tolerated.
For more information, contact Daily Press reporter Rene Ray De La Cruz at 760-951-6227 or RDeLaCruz@VVDailyPress.com.
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