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Prosecutors: Man used car dealer to commit fraud Russians

NEWARK, N. J. – a Pennsylvania man has admitted that he, with the help of his New Jersey car dealers to steal hundreds of thousands of dollars from dozens of Russian citizens, who paid in advance for luxury cars.

Federal prosecutors in New Jersey says Sergey Kapustin pleaded guilty Tuesday to money laundering. The 49-year-old Warminster, Pennsylvania, man faces up to 10 years in prison when he is sentenced July 10.

Kapustin-operated car dealers in Elizabeth, and at least one Russian-language website that offered luxury vehicles for sale below market value. He promised the cars would be delivered to the Russian citizens, but only if they paid the full price in advance.

Kapustin admitted his customers often did not receive the vehicles they had fixed payment, or were the vehicles that were not used or in poor condition.

Prosecutors say the scheme ran from January 2008 to December 2014.

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