Florida Car Salesman Pleads Guilty To $3 Million Porsche Scam

MIAMI, FL — A former salesman at a Florida Porsche dealership that claims to be the largest in the United States, has pleaded guilty to setting up a business with a similar name and pocketing $3 million in deposits for "exotic Porsche models" from more than 30 well-heeled car enthusiasts around the country.

Forty-five-year-old Shiraaz Sookralli of Plantation, Florida faces a maximum sentence of 20 years in prison when he is sentenced at 10 a.m. Nov. 14 by U.S. District Judge Rodney Smith.

"The majority of the vehicles were rare, highly sought-after, Carrera 911 models. The defendant required deposits from his victims in the form of wire transfers, bank checks and cash that he later deposited into his shell company’s bank account," according to federal prosecutors in Miami.

The guilty plea was announced Monday by U.S. Attorney Ariana Fajardo Orshan in Miami, Special Agent in Charge George L. Piro of the FBI Miami Field Office, Special Agent in Charge Michael J. De Palma with Internal Revenue Service Criminal Investigation and Broward County Sheriff Gregory Tony.

"Throughout the conspiracy, customers wired or otherwise transferred approximately $3 million to Sookralli which he used for his personal benefit," prosecutors explained. "As set forth in the court documents, the defendant used the money for extravagant expenditures including luxury vehicles, jewelry, nightclubs and restaurants. Sookralli also funneled amounts in excess of $10,000 at a time from his shell company account to bank accounts he controlled."

Sookralli pleaded guilty to conspiracy to commit mail fraud and wire fraud. The case is being prosecuted by Assistant U.S. Attorney Roger Cruz.

"Prior to executing the fraud scheme involving the bogus sales orders for the Porsche vehicles, in or around 2014 through 2016, Sookralli opened a separate “shell” company named Color Pro Motorsport," prosecutors said. "Through that company, Sookralli embezzled additional money from Champion Porsche."

Sookralli's old employer, Champion Porsche, uncovered Sookralli’s fraud scheme and began contacting victims. All of Sookralli's victims with valid claims were made whole by Champion, according to federal prosecutors.

The dealership subsequently charged in a civil lawsuit that Sookralli had 10 children and "has had serious financial troubles through the payment of child support and money judgments against him."

Sookralli's "shell" company was called "Champion Autosport," according to court documents.

"After forming the shell corporation, Sookralli opened a bank account in the shell corporation’s name. Sookralli then entered into bogus sales orders with customers for the unauthorized sales of non-existent future exotic Porsche models," said federal prosecutors.

Most of the vehicles were rare, highly sought-after, Carrera 911 models. Sookralli required deposits from his victims in the form of, wire transfers, bank checks and cash that he later deposited into his shell company’s bank account.

"The buyers relied on Sookralli’s longtime employment at Champion Porsche, title as 'vice president of marketing,' representations that he or she would receive a yet-to-be-built Porsche vehicle, and the seemingly legitimate bank account for wiring deposits to Sookralli," prosecutors asserted. "Champion Porsche did not authorize Sookralli to conduct these transactions."

Sookralli defrauded one victim with whom he had agreed to sell a Porsche vehicle “on consignment” for the victim.

"Once the defendant sold the car, he kept the money for himself," prosecutors said.