Car Loan Dealer Shady

Charles Monger of Supreme Lending Group announced to the crowd on May 19th at an auction that he would be financing City Councilman Edmund Ford’s property loan. Ford already has a spotty reputation when it comes to finance, but Monger apparently has taken Ford under his wing and will ensure that he is able to buy the property in question.

However, Monger is usually in the auto loan business. The convicted felon arranges auto loans that are not legal in some cases and shady at best in others. Two years ago, Monger was found guilty of fraud for actions he took while working as a car salesman at Thrifty Auto Sales.

He helped two customers get car loans who did not have the money for them. He helped them forge documentation that made it look like they had the necessary income to get the auto loans, but they did not. He helped them create bogus pay stubs and filed them with the car loan company.

Monger got probation for the charges, and then filed bankruptcy. He discharged a car loan, some personal debt and past due income taxes. Now it seems that the auto loan business is done with Monger, and he is getting into mortgages instead. However, is it legal for a convicted felon to work in financing?

Yes, as a matter of fact it is. Under Tennessee law, he does not have to have a license to broker mortgages, and his criminal record will not stop him from business as usual.

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