A Virginia Beach man has been sentenced to six years in prison for his role in a scheme involving mail, bank, and wire fraud. Adrian Knight, 41, owned Ace Auto Sales, LLC in Chesapeake. According to court documents, from March 2019 to January 2023, Knight led a conspiracy that involved submitting fraudulent loan applications for vehicles not actually held by his dealership.
Knight recruited others into the operation and acted as its leader. The group provided financial institutions with false information such as altered vehicle identification numbers and fabricated income and employment details to secure loans. After receiving funds from these loans, Knight kept part of the money and distributed the rest among his co-conspirators. In many cases, those involved would later default on the loans or claim identity theft had occurred.
The scheme affected about two dozen financial institutions and resulted in losses exceeding $2 million. No actual automobiles were purchased with the loan proceeds.
“Adrian Knight conspired to profit from exploiting financial institutions that serve honest consumers,” said Lindsey Halligan, U.S. Attorney for the Eastern District of Virginia. “These schemes undermine legitimate lending and drive up costs for borrowers. We will continue to ensure that markets remain fair, transparent, and trustworthy, and that those who manipulate the system for personal gain are brought to justice.”
Assistant U.S. Attorney Clayton D. LaForge prosecuted the case.
Further information can be found on the website of the U.S. Attorney’s Office for the Eastern District of Virginia or by searching Case No. 2:25-cr-46 on PACER.
