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Champion Porsche VP Disappears with $2.5M in Deposit Money

Champion Porsche North America

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Champion Porsche VP Disappears with $2.5M in Deposit Money

In order to secure a limited-production, highly exclusive Porsche model like the GT3 or the GT3 RS, one has to pay a large sum in deposit money to the dealer. Over the past year more than 24 transactions were made to Champion Porsche – the largest dealer of Porsche in North America by people wanting to buy these cars. Only that none of the depositors received their cars and turns out the Vice President of the dealership ran away with $2.5 million in deposit money and hasn’t been seen since.

According to details unearthed by The Drive, Shiraaz Sookralli, the man responsible for the fraud allegedly created a shell company called “Champion Autosport” and made fake documents to lure buyers. Not only that, he also reportedly inserted fake build numbers or build numbers from other cars into the “Buyers Deposit Agreements”. By using the reputed “Champion” name, the customers were tricked into thinking that they were placing orders for real cars. As such, most of them paid $100,000 or more in deposit money to a secret bank account. The bank account has been emptied out as of this writing.

Surely, the reputation of Champion Porsche and Porsche North America has been hurt by the situation, both of which are facing severe back lash and not to mention, lawsuits by the customers. However, The Drive notes that Champion Porsche and Sookralli have been involved in a similar situation concerning delivery of two 911 R models.

More information on the matter can be found on this Rennlist forum or these Instagram and Twitter accounts.

Source: The Drive

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