PHOENIX, AZ (May 3, 2011) – A Maricopa County Grand Jury has charged Stanley Dean Torgerson with multiple counts of fraud and theft for selling vehicles for customers and failing to give them the proceeds. Torgerson, who owns International Car Auction in Gilbert, is accused in a 101-count indictment of defrauding more than fifty people in this manner since 2009. He was arrested this morning by Gilbert Police and remains in custody on a $50,000 cash only bond.
“The conduct alleged in the indictment handed up by the Grand Jury is breathtaking in its scope,” remarked Maricopa County Attorney Bill Montgomery. “The citizens of Maricopa County can feel confident that my office will aggressively prosecute individuals who violate the public trust under the guise of operating legitimate businesses,” he added.
International Car Auction has been in business for twenty years. At the end of 2009, Torgerson allegedly began selling customer vehicles and pocketing the proceeds, ignoring phone calls, emails and in-person communication with the victims. An analysis of Torgerson’s financial accounts revealed he was spending sale proceeds on family members, personal expenses and other businesses.
If convicted on all counts and sentenced to consecutive aggravated terms, Torgerson faces the possibility of spending the rest of his life in prison.