Tyler car dealership at the center of alleged investing scheme - WFXG FOX 54 - News Now

Tyler car dealership at the center of alleged investing scheme

Tyler Automax, as seen via Google Maps Street View on July 2011. Tyler Automax, as seen via Google Maps Street View on July 2011.
The property where Tyler Automax once operated. It is now for lease. The property where Tyler Automax once operated. It is now for lease.
Muhammad Moosa Yahya, mug shot from an arrest in 2000. Source: Smith County Jail. Muhammad Moosa Yahya, mug shot from an arrest in 2000. Source: Smith County Jail.
TYLER, TX (KLTV) -

 

The lot at Tyler Automax on the edge of Downtown Tyler is now empty, and the president of the dealership is indicted for allegedly lying to the company's investors.

A federal grand jury indicted Muhammad Moosa Yahya, Wednesday, on four counts of wire fraud in connection with an investment scheme with a local business. According to federal court documents, Yahya, 36, was president of Tyler Automax since 2004.

The indictment stated Yahya solicited people through a corporation named EMN Global Trading to invest in the dealership, saying their funds would be used to purchase vehicles. The investors were then told they would be paid profits from the sale of those vehicles. 

Instead of paying investors as promised, prosecutors believe Yahya used the wired funds for his own use. The indictment lists three separate investors who fell victim to this scheme saying they wired Yahya large sums of money to his business checking account. That money was allegedly not used to buy vehicles for the dealership, as promised to the investors. Instead, prosecutors said Yahya moved the money from his business account to his personal checking account. Documents show a total of $455,000 was reportedly wired to Yahya for use at Tyler Automax from the three individuals.

As a result of the indictment, Yahya is ordered to forfeit property that could be directly or indirectly involved in the potential offense(s).

If convicted, he could face up to 20 years in prison, a fine up to $250,000 (or both) and supervised release up to three years.

The property that Tyler Automax once occupied, is now vacant and is up for lease.

Copyright 2012 KLTV. All rights reserved.

 

  • NEWSMore>>

  • Attorney: California police shot unarmed black man 10 times

    Attorney: California police shot unarmed black man 10 times

    Monday, April 23 2018 10:15 PM EDT2018-04-24 02:15:47 GMT
    Tuesday, April 24 2018 2:52 AM EDT2018-04-24 06:52:27 GMT
    (James Quigg/The Daily Press via AP). Lee Merritt, center, leads a news conference, Monday, April 23 2018, in San Bernardino, Calif., announcing a series of lawsuits against the Barstow Police Department regarding the shooting death of Diante "Butchie"...(James Quigg/The Daily Press via AP). Lee Merritt, center, leads a news conference, Monday, April 23 2018, in San Bernardino, Calif., announcing a series of lawsuits against the Barstow Police Department regarding the shooting death of Diante "Butchie"...

    Lawyers for the family of a black man killed by police in a busy Southern California parking lot say an autopsy found he was shot 10 times and died from choking on his own blood as police delayed getting him medical help.

    More >>

    Lawyers for the family of a black man killed by police in a busy Southern California parking lot say an autopsy found he was shot 10 times and died from choking on his own blood as police delayed getting him medical help.

    More >>
  • Former President George H.W. Bush in ICU at Houston hospital

    Former President George H.W. Bush in ICU at Houston hospital

    Monday, April 23 2018 6:52 PM EDT2018-04-23 22:52:47 GMT
    Tuesday, April 24 2018 1:55 AM EDT2018-04-24 05:55:32 GMT
    Former President George H. W. Bush was hospitalized Wednesday, but his condition has steadily improved. (Source: CNN)Former President George H. W. Bush was hospitalized Wednesday, but his condition has steadily improved. (Source: CNN)

    Bush, 93, lost his wife Barbara just last week. The couple was married for 73 years, longer than any other president and first lady in history. 

    More >>

    Bush, 93, lost his wife Barbara just last week. The couple was married for 73 years, longer than any other president and first lady in history. 

    More >>
  • Senators considering a delay for VA confirmation hearing

    Senators considering a delay for VA confirmation hearing

    Monday, April 23 2018 11:35 PM EDT2018-04-24 03:35:40 GMT
    Tuesday, April 24 2018 1:49 AM EDT2018-04-24 05:49:08 GMT
    (AP Photo/Manuel Balce Ceneta, File). FILE - In this Jan. 16, 2018, file photo, White House physician Dr. Ronny Jackson speaks to reporters during the daily press briefing in the Brady press briefing room at the White House, in Washington. Now it’s Was...(AP Photo/Manuel Balce Ceneta, File). FILE - In this Jan. 16, 2018, file photo, White House physician Dr. Ronny Jackson speaks to reporters during the daily press briefing in the Brady press briefing room at the White House, in Washington. Now it’s Was...

    Senators discussing plans to delay the confirmation hearing for President Donald Trump's pick to be Veteran Affairs secretary over growing questions about the nominee's ability to manage the government's...

    More >>

    Senators discussing plans to delay the confirmation hearing for President Donald Trump's pick to be Veteran Affairs secretary over growing questions about the nominee's ability to manage the government's second-largest department.

    More >>
Powered by Frankly