background

Canadian man jailed for powersports loan fraud

Mehdi Abdulahi-Sabet has been sentenced to eight months in prison in connection with $700,000 worth of fraudulent powersports vehicle purchases in the Metro Vancouver area, according to documents filed to the Courts of British Columbia. He was ordered to pay $35,067 to three banks, including Scotiabank in Port Coquitlam, and to a North Vancouver Nissan dealership, over seven years.

In cooperation with a man named Reza Moeinian, Abdulahi-Sabet visited nine British Columbia dealerships  over ten days in June 2016. At each dealership, Abdulahi-Sabet applied for vehicle financing using false information and documentation, such as false employment verification and paystubs.

The vehicles that Abdulahi-Sabet purchased include a Ducati, a Harley-Davidson, a travel trailer, a Sea-Doo, and a boat. Abdulahi-Sabet also purchased several cars, such as a Jaguar convertible and a Jeep. The total value of the vehicles was $715,757.

Witnesses observed that Moeinian appeared to be directing Abdulahi-Sabet on how to complete the financing applications or that Moeinian did the majority of the talking during negotiations, according to court documents.

Moeinian was arrested Sept. 18, 2018, and was sentenced to two years’ incarceration, in addition to restitution of $35,608.

Abdulahi-Sabet, a chemical engineer, fled to Canada from Iran in 2005 with his wife after he was arrested, jailed and tortured by the government for being an outspoken critic, according to court documents. Abdulahi-Sabet worked in marine construction but was eventually deemed unable to work and received disability. He met Moeinian through his work in construction, and it was Moeinian who approached Abdulahi-Sabet about the fraud scheme, according to the documents.

Join us for Powersports Finance Summit 2019, October 23-24 at the Hilton San Diego Bayfront. At the Summit, lenders and dealers will have the opportunity to learn new information that will help their business grow, discuss the latest industry data and trends, and network to form new relationships with fellow attendees and vendors. Register now at www.powersportsfinance.net.

Matthew Wood

Matt Wood is the Associate Editor of PowerSports Finance, where he is responsible for covering all the latest news, trends, and innovations with powersports lenders and dealerships. Previously, Matt was a writer for Auto Finance News before switching full-time to PowerSports Finance. He is also an experienced entertainment news writer covering pop culture, movies, and TV shows. Matt received his Bachelor’s degree in Communication from Rowan University in New Jersey.

Sign up for our Email list

Sign Up