Dave Douthitt from Internet Auto Sales ripped me off for over $70,000. I became an investor who purchased cars for Internet Auto's inventory.in exchange I would receive 30% of the net profit of each car. I held the titles as collateral. When a car sold I exchanged the title for the return of my capital plus my profit. Eventually I got comfortable enough with Dave that I let him keep the titles and run the business whithout having to chase me down after each car was sold. It went good like that for two years, albeit his accounting was messy.
The third year came and business started slowing down. My profit had shrunk to nearly zero with around $150,000 cash invested. I noticed that Dave wasn't spending time at the dealership, and his one-and-only salesman was crafting a new business to open on the lot ~ a portable Mexican food vending trailer.By the time I stepped in to complain $58,000 of my capital was missing. Dave had sold cars and not returned the money to me as was our system.instead, Dave used my capital to pay for rent, loss on old inventory, lent money to the salesman, and who knows what else. A man I trusted like a brother went behind my back.
I put a halt to his control of my money. Shame on me for trusting him, but the past was the past and I needed to act fast. We agreed to keep going forward with me in control of my capital and that he would pay me back the $58,000 over time with the profit on cars. Two months after that arrangement was made I discovered that he was selling cars without telling me or asking for the titles. There are several customers driving cars around that the paperwork is not yet turned into the DMV because I have the titles. Again, I was not going to give the titles to Dave until I received the money. He ran up an additional $14k of loss for me in a very short period of time. Very dishonorable and malicious.
At the end of the day I will have to take legal action against Dave and his dealer principal Richard Gale and Internet Auto Sales. I don't know if I'll ever see a penny. I feel bad for all those people who paid for cars and will not be able to license them until I release the titles. At some point they will not be able to drive them because Dave got greedy and didn't play by the rules.
Richard Gale (the dealer principal) will be the one to take the fall because legally it's his operation, Dave was just some kind of agent. It wouldn't have been so bad except that Richard Gale for some reason was protective of Dave instead of protecting his investor (s) as though they were in on it together... I'm not sure. Stupid because Richard Gale is bonded.
Nonetheless, I feel it's my duty to warn everyone about Dave Douthitt, Internet Auto Sales, and Richard Gale. Do not let Dave charm you into investing any money with him. He will mislead you about how protected your money is. He will mislead you in more ways then one.
This was written under the careful guidance of my attorney who assured me I'm not slandering, but merely telling the world what happened to me. Soon the transcripts will be available to the public as all this will be sorted out in the court of law.
Please be careful for Dave Douthitt, Richard Gale, and Internet Auto Sales.
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