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home : news : regional February 26, 2015

6/6/2014
Auto dealership manager sentenced on theft charges

CONCORD, N.H. (AP) -- A New Hampshire auto dealership manager has been sentenced to pay at least $50,000 for taking money from consumers for used cars and failing to transfer the funds to a provider offering extended service contracts or warranties.

Edward Walter of NHCars.net in Hooksett pleaded guilty in January to charges of theft by misapplication. He received a suspended sentence of 1 ½ to three years Thursday.

He can keep operating NHCars.net under a revised business plan that requires auditing.

Foster said in addition to taking money meant for the extended service provider, Walter also offered an "in-house" warranty by charging a fee in exchange for his promise to repair the consumer's vehicle. However, he was not registered with the state Insurance Department and didn't demonstrate financial responsibility, as required by law.







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