Phillip Bell, 49, pleaded guilty on Sept. 8 to one count of wire fraud. Bell operated a series of businesses -- including Pre-Owned Semi-Trailers, Inc., and Hydraulic Trailer Sales, Inc. in Springboro and Miamisburg. Bell offered for sale semi-trailers to which he told customers he had title.
Once a customer agreed to purchase, Bell typically e-mailed or sent them by facsimile a purchase agreement for the semi-trailer as well as wire transfer instructions for payment. On receiving a customer’s payment, Bell promised to deliver the semi-trailer as well as title.
“In reality, however, Mr. Bell generally did not have title to, or actual ownership of, the semi-trailers that he offered to sell his customers,” Assistant U.S. Attorney Brent Tabacchi told the court.
At the time of certain sales, Bell was attempting to acquire the semi-trailers and their titles from third-parties. Bell never disclosed this to certain buyers.
“Upon receiving his customers’ payments for the semi-trailers, Bell improperly diverted the money for his benefit or for other business purposes rather than using it to secure the title to the semi-trailers that they believed that they had purchased. Rather than disclosing these circumstances to his customers, Bell falsely continued to tell them that he had title to their semi-trailers and would provide it to them shortly,” Stewart said.
Stewart congratulated FBI agents and Assistant U.S. Attorney Tabacchi for the prosecution.
About the Author