Exclusive: Delray Beach luxury car dealer indicted on wire fraud in scheme involving millions

DELRAY BEACH, Fla. — A Delray Beach luxury car dealer has been indicted on federal wire fraud charges stemming from an alleged scheme involving fictitious Mercedes-Benz sprinter vans he claimed he was selling to Amazon.

In one week in December 2020, federal investigators say Stephen Neary transferred almost $8 million between his and investors' accounts, and "misappropriated investor funds for his own personal use and benefit, without any notice to, or authorization from, his investors."

The indictment says Neary, owner of Palm Beach Auto Group, recruited and befriended investors to pony up millions to buy Mercedes Sprinter vans he said he would refurbish and sell to Amazon at a profit of between 7-10%.

However, investigators say the vans didn’t exist and that Neary falsified manufacturer documents and forged vin numbers.