{"id":41921,"date":"2024-02-11T19:45:53","date_gmt":"2024-02-12T00:45:53","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=41921"},"modified":"2024-02-11T19:45:57","modified_gmt":"2024-02-12T00:45:57","slug":"fbi-investigating-florida-classic-car-dealer-accused-of-title-fraud-scheme","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2024\/02\/11\/fbi-investigating-florida-classic-car-dealer-accused-of-title-fraud-scheme\/","title":{"rendered":"FBI Investigating Florida Classic Car Dealer Accused of Title Fraud Scheme"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Stephen Phelps, owner of the now-bankrupt FSD Hot Rod Ranch, recently went face to face with the creditors to whom he owed money. After filing for Chapter 7 bankruptcy in December 2023, Phelps listed almost 100 creditors and owes more than $ 4 million in liabilities. Despite the Eustis police department and FBI investigating Phelps for fraud, he told his creditors during a recent Zoom session that his business simply failed.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"767\" height=\"425\" sizes=\"auto, (max-width: 767px) 100vw, 767px\" src=\"https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2024\/02\/Screenshot-47-17.png\" alt=\"\" class=\"wp-image-41922\" srcset=\"https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2024\/02\/Screenshot-47-17.png 767w, https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2024\/02\/Screenshot-47-17-300x166.png 300w\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">\u201cI deeply regret that you lost money,\u201d said Phelps, according to Mike DeForest at&nbsp;WKMG Click&nbsp;Orlando.&nbsp;\u201cIt was simply a business plan I could not make work.\u201d However, many of Phelp\u2019s customers would argue otherwise.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FSD (Father, Son, Daughter) Hot Rod Ranch bought and sold&nbsp;<a href=\"https:\/\/www.thedrive.com\/news\/35532\/this-1000-horsepower-knights-helmet-hot-rod-is-so-metal\" target=\"_blank\" rel=\"noreferrer noopener\">hot rods&nbsp;<\/a>and classic cars but many of its customers either failed to get their money or didn\u2019t receive the car they bought. At least one customer received a fraudulent title, leaving them in debt to the bank for the car but unable to legally register and drive it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the Zoom session, Utah native Brett Pace asked Phelps about the $28,000 he was owed. In 2022, Pace agreed to sell Phelps his 1972&nbsp;<a href=\"https:\/\/www.thedrive.com\/news\/8510\/gmcs-sierra-2500hd-denali-is-the-ultimate-luxury-snowplow-rig\" target=\"_blank\" rel=\"noreferrer noopener\">GMC Sierra&nbsp;<\/a>and shipped the truck to FSD in Florida. Phelps was supposed to pay Pace the $28,000 within 90 days, under a delayed payment agreement, but never did.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cI sincerely apologize for that,\u201d said Phelps. \u201cBullshit,\u201d Pace replied, seemingly unaccepting of the apology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Debra Meyers claimed to have bought a 1931&nbsp;<a href=\"https:\/\/www.thedrive.com\/category\/ford-news\" target=\"_blank\" rel=\"noreferrer noopener\">Ford&nbsp;<\/a>Model A Phaeton replica with her late fianc\u00e9 from FSD for $25,000. After her fianc\u00e9 died, she realized that she never received a title for the car. So now she owes the bank but can\u2019t legally drive it. It seems Phelps never gave Meyers the title because he doesn\u2019t have it. Another creditor, Jim McMillan, interrupted to tell Meyers that he still has the title for the \u201931 Ford since Phelps still owes him $17,000 for the car. According to&nbsp;<a href=\"http:\/\/www.leg.state.fl.us\/statutes\/index.cfm?App_mode=Display_Statute&amp;URL=0300-0399\/0320\/Sections\/0320.27.html\" target=\"_blank\" rel=\"noreferrer noopener\">Florida state law<\/a>, it\u2019s illegal to sell a vehicle without having possession of its title.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are currently 27 complaints to the&nbsp;<a href=\"https:\/\/www.bbb.org\/us\/fl\/eustis\/profile\/classic-car-dealers\/fsd-hot-rod-ranch-0733-90758089\" target=\"_blank\" rel=\"noreferrer noopener\">Better Business Bureau&nbsp;<\/a>about FSD, all with similar stories of either not receiving payment, not receiving legal titles, or simply not receiving cars they purchased.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even an electrician asked Phelps if he\u2019d ever get the $8,300 he was owed for work done at FSD. \u201cI don\u2019t think so,\u201d said Phelps.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Phelps, there are no more vehicles in FSD\u2019s possession and the last of the cars either went back to the owners or to buyers. Since filing for bankruptcy and shutting FSD\u2019s doors, Phelps mortgaged his $1 million, 10-acre residential property and is renting it to an event planning company, Pegasus Manor, to hold weddings and other venues there. However, Pegasus Manor is owned by former model Beth Sabol, whose social media indicates is in a personal relationship with Phelps. Phelps told creditors that he\u2019s yet to receive payment from Pagasus Manor for renting his property.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FSD\u2019s website is now shut down but you can still check out the&nbsp;<a href=\"https:\/\/web.archive.org\/web\/20230103151455\/https:\/fsdhotrodranch.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">archived version.&nbsp;<\/a>The criminal investigations by the Eustis police department and FBI are currently ongoing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stephen Phelps, owner of the now-bankrupt FSD Hot Rod Ranch, recently went face to face with the creditors to whom he owed money. After filing for Chapter 7 bankruptcy in&hellip; <\/p>\n","protected":false},"author":2,"featured_media":41922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[17],"tags":[7528],"class_list":["post-41921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional-and-world-news","tag-fbi-investigating-florida-classic-car-dealer-accused-of-title-fraud-scheme"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/41921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=41921"}],"version-history":[{"count":1,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/41921\/revisions"}],"predecessor-version":[{"id":41923,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/41921\/revisions\/41923"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/41922"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=41921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=41921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=41921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}