Red car money handcuffs. shopping for vehicles fraud car sale, breaking the law auto dealer concept. Source: Adobe Stock

An auto dealer allegedly applied for $555,000 in loans from eight credit unions for the same vehicles, federal prosecutors for the Middle District of Tennessee in Nashville said.

Andrew Oliver, 31, of Cadiz, Ky., who is the owner of First Choice Auto Sales in Clarksville, Tenn., and AJ’s Auto Sales in Hopkinsville, Ky., pleaded not guilty to one felony count of bank fraud. However, he is expected to change his plea during a scheduled court hearing in May.

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