Posted on 11/13/24
| News Source: FOX45
Baltimore, MD - Nov. 13, 2024 - Two Maryland men were indicted by a federal grand jury after allegedly tampering with vehicles to raise their resale prices, officials said.
Jerry John Mathins, 50, of Laurel, and Braysean Owens, 23, of Baltimore, were charged with conspiracy to commit odometer tampering and three counts of securities fraud.
According to the indictment, Owens purchased used vehicles with high mileages at auction. Then, Owens and Mathins altered the odometers of those vehicles to reflect a lower mileage before reselling them to unsuspecting buyers. Those resales went for sometimes thousands of dollars more than the vehicles would have sold for at their correct mileage.
“The U.S. Attorney’s Office prioritizes protecting consumers from deceptive practices,” U.S. Attorney Erek L. Barron said. “We will investigate and hold accountable those who fraudulently obtain individuals’ hard-earned money, including through odometer fraud, as alleged in this case.”
If convicted, Owens faces a maximum of 10 years in prison for each securities fraud count, while Mathins faces up to five years in prison for the conspiracy to commit odometer tampering count.
“This was an elaborate scheme that targeted hundreds of unsuspecting car buyers who trusted they were purchasing cars with accurate mileage. Our thorough investigation illustrates how Mathins and Owens deceived these buyers to illegally line their own pockets,” FBI Baltimore Special Agent in Charge William J. DelBagno said. “This case exemplifies the FBI’s commitment to vigorously pursue criminals who orchestrate fraud schemes and bring them to justice.”