I'm sure there were people that cared for Madoff too...

 

I know of more than one instance where he would call the new owners of some of the cars that were "unsold" and have them brought back in and set on the showroom floor before the VW auditors would drop by.

Vik is an interesting character. He seems to be liked and disliked equally by people who know him personally.

 

good point....I didn't even think about auditors. But most of the times they show up unannounced

 

Thank you! My point exactly!

Ripping people off does not make you a good person! It's more than a mistake...Vik knew exactly what he was doing and has been in trouble before.

 

Wow, 60 grand for an LP640!

 

I don't know Vik, and it sounds like he was a nice guy but I have to agree with not siding with criminals just because they seemed like decent people. He abused the system and people were taken advantage of because of his bad decisions. Same with Madoff, Enron guys, Mana, the list goes on. Everyone who trusted these people with their money and lost a lot (in some cases everything). I'm sure the people that were directly affected don't think these are "good people".

In the end, everyone gets what they deserve.

 

Give me a break about the guy being a "friend" and a "nice" guy, the guy is a prick and most importantly he is a CON MAN and a THIEF.

 

Lamborghini dealer to plead guilty to wire fraud
He was charged with bilking a financing company that lent him millions of dollars to buy the luxury sports cars to put on his now-defunct lots in Calabasas and Santa Ana.
By Ari B. Bloomekatz
March 12, 2009
An Orange County man whose car dealerships accounted for about 5% of all Lamborghinis sold worldwide has agreed to plead guilty to a single count of felony wire fraud and faces a maximum penalty of 30 years in prison, authorities said Wednesday.

Viken Keuylian, 45, of Laguna Hills was charged with defrauding Volkswagen Credit Inc. out of at least $12 million, said Assistant U.S. Atty. Andrew Stolper.

The financing company gave Keuylian loans to purchase the luxury sports cars. He is scheduled to appear Monday in federal court in Santa Ana. Keuylian owned Lamborghini of Orange County, in Santa Ana, and Lamborghini of Calabasas, which have now both closed.

Under his agreement with Volkswagen Credit, he was lent money to purchase cars that he put on his lots, and for each car sold he "was obligated to pay back the money loaned to purchase that specific vehicle," according to a statement by the U.S. Department of Justice.

Keuylian allegedly deceived Volkswagen Credit by telling the company that the cars he had already sold remained on his lots. But, in fact, he allegedly had misappropriated that money to pay off other expenses, including business debts connected with a vineyard and a Lotus car dealership in Beverly Hills, authorities said.

In one incident, authorities said, Keuylian sold about 54 luxury vehicles in October 2008 for less than he owed Volkswagen Credit for each car. The company lent him $12,560,314 to purchase the cars, but Keuylian received only $8,163,275 from the sales. Authorities said none of the initial loan for the 54 vehicles was paid back.

 

Car Crime: Lamborghini Orange County Owner To Plead Guilty On Fraud Charges

We reported in January Lamborghini Orange County's owner, Vik Keuylian, was wanted for defrauding Volkswagen Credit Inc. for $12 Million. He has agreed to plead guilty, potentially landing him in jail for 30 years.

Not only is Vik Keuylian looking at a 30 year jail sentence, but a $1 million fine for all the conniving that he's done. This is all pending a judge's approval on Monday at the U.S. District Court in Santa Ana.


For those not in the know, Vik Keuylian cheated the system by offering a Lamborghini fire sale at two of his California-based dealerships, netting him $8.1 million which he has yet to repay to VW Credit Inc., who originally financed the cars at a cost of $12 million.

We originally asked how someone could sell 54 Lamborghinis (or 8% or Lamborghini's 2008 total U.S. sales) in eight days and it seems as if that question has been answered. He sold many to wealthy Hollywood elite like, Sharon Stone, Kobe Bryant, but also sold a package of 23 to Newport Beach entrepreneur, Levon Gugasian, owner of Newport Collectibles exotic auto dealership. Included in the plea agreement is one instance where Gugasian paid Keuylian, in cash, $60,430 for a single 2009 Lamborghini LP640. Silly thing is, VW Credit Inc. had originally financed it for $387,720.

Keuylian; Looks like you're up shit's creek without a paddle. We'll bring you more after the hearing on Monday.

 

I understand the outrage and am not making excuses for Vik. He screwed up and must now must pay the price. But I am just not the kind of person who throws a friend under the bus when they hit rough times. It's really easy to be friendly and supportive when people are handing you gifts and things are going well. The test of a true friend is whether or not he or she will support you when you hit a rough patch. Vik has hit a rough patch - admittedly of his own making. He will suffer enough without having his long-time friends desert him, talk behind his back and curse his name on the Internet. Many of us played right along with Vik when he was having parties and hosting customer appreciation days. Those of us who knew him shouldn't turn our backs on him now.

Like I said, I am not excusing anything that he did. But I support him and sincerely hope that he is able to learn from this experience, make it right and move on with his life.

Each of us would like to be treated the same way if we were having hard times.