Man Sentenced To 48 Months In Prison After Acquiring Five Teslas Without Ever Paying
Portfolio Pulse from Bibhu Pattnaik
Michael Gonzalez, a 34-year-old from Vermont, has been sentenced to 48 months in prison after acquiring five Tesla vehicles without making full payment. Gonzalez manipulated Tesla's payment system and sold three of the vehicles, collecting around $231,900. He also set one vehicle on fire and filed an insurance claim, which was denied. The court has ordered Gonzalez to pay $493,043.93 in restitution to Tesla and forfeit $231,900 to the government.

October 14, 2023 | 3:42 pm
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Tesla was the victim of a fraud scheme where a man acquired and sold vehicles without making full payment. The court has ordered the man to pay restitution to Tesla.
While the news is directly related to Tesla, it is unlikely to have a significant impact on the company's stock price in the short term. The restitution payment ordered by the court is relatively small compared to Tesla's overall financials.
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