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.READ MORE: Steamship Authority Website Running Again After Being Hit With Ransomware Last Week
He can keep operating NHCars.net under a revised business plan that requires auditing.READ MORE: Family & Friends Of Fallen Worcester Police Officer Manny Familia Organize Softball Tournament In His Honor
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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