Erie Auto Dealer Sentenced for Fraud
Despite efforts to pay back restitution, the former owner of an Erie auto dealership will now spend some time in federal prison, for his role in an auto loan scheme.
On Monday, 41-year-old Adam Weaver was sentenced to serve four months in federal prison, on a felony count of conspiracy to commit wire fraud.
Weaver had been running the Rick Weaver Buick GMC dealership on West 12th Street.
From May of 2015 to March of 2016, prosecutors say Weaver, along with Douglas Grooms and Adam Coover, conspired to defraud the bank through a loan scheme that used fake buyers to inflate the prices of cars.
The fake buyers would default on the car loans, leaving the bank unable to recoup the cost of the cars.
Weaver was also ordered to pay a $400,000 fine and nearly $144,000 in restitution.
However, according to Weaver's lawyer David Ridge, most of that money has already been repaid.
Judge David Cercone said the fact that most of the money was already repaid, played a factor in the length of Weaver's prison sentence.
"It's a significant factor because, one, normally a defendant would have to pay their fair share or their fraction of restitution,” said Ridge. “He didn't pay just his one-third share. He paid the entire amount. He paid it before the sentencing and it wasn't just because he may have had the means to do so. He took responsibility for everything that happened under his watch."
Weaver apologized to the court before his sentencing, and vowed to make amends to everyone impacted by his actions.
Grooms pleaded guilty to fraud, and was sentenced in March to serve 11 months in prison.
Coover is awaiting sentencing after pleading guilty to fraud.
As for the car dealership moving forward, Ridge says Adam Weaver is no longer in a position of authority.
Ridge says his father Rick Weaver took back control of the dealership after his son's guilty plea.